UBER: Week of October 28th, 2024Just sharing my thoughts on UBER. It popped up on my screener and I am actually planning to try this trade out!
Not advice, just opinions.
Safe trades everyone and enjoy the rest of your weekend!
Key facts today
39,951.85
0.00 BRL
9.43 B BRL
186.21 B BRL
About Uber Technologies, Inc.
Sector
Industry
CEO
Dara Khosrowshahi
Website
Headquarters
San Francisco
Founded
2009
ISIN
BRU1BEBDR009
FIGI
BBG00R3TCRH2
Uber Technologies, Inc. is a technology platform, which engages in the development and operation of technology applications, networks, and product to power movement from point A to point B. The firm offers ride services and merchants delivery service providers for meal preparation, grocery, and other delivery services. It operates through the following segments: Mobility, Delivery, Freight, and All Other. The Mobility segment refers to products that connect consumers with Mobility Drivers who provide rides in a variety of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis. The Delivery segment offers consumers to search for and discover local restaurants, order a meal, and either pick-up at the restaurant or have the meal delivered. The Freight segment focuses on connecting Carriers with Shippers on its platform, and gives Carriers upfront, transparent pricing, and the ability to book a shipment. The company was founded by Oscar Salazar Gaitan, Travis Kalanick, and Garrett Camp in 2009 and is headquartered in San Francisco, CA.
$UBER Trade ideaUBER big Sell-off after earnings made huge GAP above. Now consolidating and forming nice wedge with Higher lows and lower highs. Could play either side.
CAUTION: careful trading this week with Elections and tons of data coming out, interest rates and FOMC meeting.
Uber needs to put on the brakes before it crashesKey support level to watch is $70.97 this week. If it fails there are 2 levels to watch:
-$62.63
-$49.53
UBER earnings playUBER trading at a major trend line here for earnings which makes for a big move. Its looking like a clear miss and I think we head down to $70
UBER Technologies Options Ahead of EarningsIf you haven`t bought UBER before this major breakout:
Now analyzing the options chain and the chart patterns of UBER Technologies prior to the earnings report this week,
I would consider purchasing the 76usd strike price Puts with
an expiration date of 2024-11-15,
for a premium of approximately $
75 clear sign if on the trendline no changeIt's had a good run, and the indicators are turning. It might be a nice time for a minor correction to mid-70 before continuation.
UBER Breakaway or Pullback? Trend Analysis
Bullish Momentum: Strong upward momentum with a recent gap up indicates bullish sentiment.
Breakout: Price has broken through previous resistance levels, suggesting continuation.
Price Action Analysis
Gap Up: Significant gap up on high volume signals strong buying pressure.
Long term Buy on UBER cmp $86.34Uber has given a clear breakout on the monthly charts above $82.14. Considering this move i have a target of $140 in coming months.
CMP : $82.14
Expected: $140-155
See all ideas
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