trying to push over that 37.80 areaCup & handle formed, but failed to get past the line of resistance for an upward continuation - let's see if we can get past it next week.
U1BE34 trade ideas
Potential cup and handle on 1hrtoday was a bit choppy after trump's stimulus tweet. let's see if this cup and handle goes as planned...
UBER Ready to Breakout From IPO BaseUBER has been building an IPO base for a while. Similar in look to SPOT and BYND before they broke out. And if you want to go to the 'way back machine' check out CHGG after it IPO'd. UBER has a chance to provide some huge returns. Watch for a break of the downtrend line and follow-through above the blue shaded area. Top of the watch list for me!
Uber centerfold: Doesn’t get sexier than this
10 20 50 and 100 DMAs
BB
macd
gaps
volume
... all confirming a possible breakout above the long-term wedge pattern.
Please wine and dine her first, gentlemen.
$UBERPossible Wedge Breakout Candidate (NEEDS MARKET HELP IMO)
- 30Min MACD crossing over
- 50D Crossing over 200D (Golden Cross)
- Trying to break 38 level and top trendline
Entry: 38 & Confirmation above trendline
Price Target: 39-41.5
With no market help and a red day/s, look for:
- Rejection off 38 level/Top Trendline
- 50D Crossing under 200D (Death Cross)
- Breaking of 200D/36 Support
Entry: 37.16 Support after 38 rejection
Price Target: 34.50 Support/Bottom Trendline
$UBER 4 Month #CupandHandle #ChartPatternNYSE:UBER been consolidating its rally from COVID19 bottom for the last 4 months forming a cup and handle chart pattern with $38.50 level acting as resistance. The stock is also attempting to clear a weekly down sloping trend line (red dotted line on the chart). A daily close above cup and handle chart pattern boundary will clear both chart pattern resistance and weekly trend line triggering a long entry swing trade.
10/04/2020 UBER Hi all,
Possible cup and handle bullish pattern.
Wait until UBER breaks RS1, and RS 1 becomes support.
Uber at resistance high from JuneUber closed at high from June, resistance tested 2 days in a row, it's very likely we see a retest for the 37.75 level after a breakout.
W/ the news from London, it's very likely we see a test for the high before march of $41.25, a more conservative target would be fib127lvl $40.
If not held, take short position and we may see it go to a higher low above $36
Bullish if break $38Uber has broke our first resistance trend line.
If it able to break above second resistance $38 resistance line, we will see bull trend intact.
Uber: "Buying the Dip" OpportunityFollowing up with the NYSE:UBER stock movement, we might see a drop into the $36 or lower as a wave 2 correction (Zigzag Pattern). If this is the case it would be good opportunity to get in from there.
Uber: Be long not wrongAny chart that isn’t tracking this is wrong. Breakout confirmation can be closer to 36.65 but ~$37 is sufficient. Price will target 1.618 fib level if valid.
UBERFailed attempt at the trend from ATH after the false breakout. Love this short below today's low.
$UBER Double Bottom - Downtrend Breakout$UBER Double Bottom - Downtrend Breakout
After moving counter-SPY during the initial pullback beginning September 3rd, $UBER pulled back to ~$33 and formed a clear double bottom. After forming this bottom it broke out of a downtrend line at $34 which has also acted as long term flat-line resistance.
BTO $UBER 10/2 $35c avg $.50
Bonus Trade: BTO $ETSY 10/2 $120c avg $2.40
UBER - Still under $45 IPO PriceCheck out our previous $Uber posts for more in depth analysis.
This is just your quarterly reminder that:
1. Uber is surviving the pandemic
2. Uber Eats thrived during the pandemic
3. Uber just won its appeal against the London ban
4. Uber is still below is $45 IPO price from over a year ago
We're in this one overall for the long haul, but we love to swing trade here and there. $29 was a beautiful entry if you see our last Uber posts. We also liked the recent bounce off the 200 MA at $33 area.
Shoot us a like and follow and we'll be back with some updates.
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Uber: Correction is OverNYSE:UBER seems bullish after finishing its correction wave ( wave 2 blue ).
