UBER fightUber is making great upwards progress in spite of the downward pressure from the broader market and bears. It will likely retreat to the golden zone in the following days, but ultimately we are in an uptrend. I think it will fail to break the high (38.78) off the March lows.
E: It could touch 32
T: 36.14
T2: 37.54
S: 31 +/-1
UBERD trade ideas
UBER 26.08.20 LongAsset and Time frame -UBER,1H, Premarket
Entry Price -31.18
Exit(Stop Loss) -30.37
Exit(Take Profit) -34.22
Technical Analysis -Price reached support and reacted with a good engulfing candle and good volume, market seems to move in sideways atm.
What can be improved -
Conclusion & End of Trade -
UBER watch for buy setupsHi traders:
Looking at UBER for some buy potential.
Currently price is sitting within this larger structure on the higher time frame.
We had a double bottom , price bullish impulse up.
If we get a small continuation correction to form, we can expect price to get push up to the top of the structure.
Then we can re-evaluate to see if price has enough momentum to break out, then look for more correction to buy.
Thank you
UBER: update on long positionQuick update on where we are with UBER
- we still hold the long position through the drop that happened earlier in August on the tail of the negative news regarding legal issues - which interrupted a possible breakout
- UBER is attempting another breakout with renewed demand and bullish sentiment according to the V.Viewer and the UTO -- the UTO is also showing a positive momentum to the upside
- UBER today entered the make-or-break zone - the next few days will determine if the current breakout attempt will succeed - if it does, we can look potentially at hitting the $37 to $39 range
- the breakout needs to be confirmed by a "hook" - a bounce up off that resistance zone on the chart
- the weekly (not shown here) is in line, showing an end of a bearish cycle and a possible start of a new bullish wave up
keeping the long position open for now.