$UBER with a Bearish outlook following its earnings #Stocks The PEAD projected a Bearish outlook for $UBER after a Negative over reaction following its earnings release placing the stock in drift C.
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UBER trade ideas
UBER: Complete analysis (H, D and W charts).Hello traders and investors! Let’s see how UBER is doing today and do another complete Multiple Time Frame Analysis (MTFA)!
The stock hit a top at $ 44.64, and now it is doing a pullback. We have two good support candidates in the 1h chart, which are the 38.2 and the 61.8% Fibonacci Retracements .
The 38.2% is at the 21 ema too, and the 61.8% is at the $ 41.86, which we’ll talk about later.
If UBER reacts near these support levels, it could trigger the pivot point at $ 44.64, reversing the trend for good in the short/mid-term.
Today’s candlestick pattern is called Bullish Engulfing , a bullish reversal pattern, just above the support at $ 41.86 (no, it is not the time to talk about it yet).
The volume is good, and if we defeat today’s high ( coincidently, the pivot point in the 1h chart ), the bullish pattern will be triggered. If we lose today’s low, then the bullish thesis will be invalid (or at least, delayed).
Ok, do you remember the $ 41.86? This point was the pre-covid ATH , and a previous resistance on UBER, which now it is working as support in the weekly chart.
What’s more, we have a Hammer candlestick pattern, which might reinforce our bullish reversal thesis. Surely, it is an interesting stock to keep in our radar.
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waiting for a positive divergence confirmationIts Trend(OBV) displays a Bollinger Band squeeze at the bottom of its Donchian channel.
If a positive divergence between Trend(OBV) and its price actions is confirmed , then there may be a big rally after its earning.
Trend(OBV) uses True Strength Index to analyze "On-Balance-Volume", which measures buying and selling pressure as a cumulative indicator.
Horizontal lines and zones are supports (entry for bulls and exit for bears) and resistances (exits for bulls and entries for bears).
Diagonal lines from Fib fan/channel are for trend-determination and additional levels for active trading.
The market is actively moving so the entries and exits constantly change. Trade small if you want to practice!
UBER - Inverted cup and handle watch Has been forming inverted cup and handle. Break down below the neck line is bearish.
Bouncing from the neck line is bullish.
Neckline - $45
Bad case - $38.99
Worst case - $28.59
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
UBERIf you have suddenly reached the bottom now and the decline model is not correct, then it is safe to enter from the blue line( with a breakdown and a level test)
A more aggressive way to long is from red (47.7)
There are divergences in CMF, RSI, MFI-they signal for a long time that the bottom is presumably.
It is better to stick to the scenario of actions above and not catch the knife.
(The correction model turned out to be very complex, I'm not sure about it myself)
If we reach the area of 41-38, then it will be safe to consider the long from 43 (previously, judging by the schedule)