UBER trade ideas
Uber 2nd half scale in Our longer term holdings on UBER is slowly moving in the money but the thrust out of the Non-Limiting triangle should be approximately equal to the widest wave of the Triangle. Since market conditions are unusually strong (probably climatic) if the Expanding Triangle is drifting upward, Non-Limiting patterns is the Non-Limiting “thrust” will not terminate during the time period occupied by the apex point. Look to scale in with 2nd half Longs on UBER if underlying drops into 24 and below.
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UBER - HoldWait the right signal for a long term investment.
Short Term - Hod it for now
Technical analysis (daily chart) shows an overall bullish market against the fundamental (there is a global crisis and everything is still shut)
Fundamental Analysis says:
UBER will lay off 3700 employees 14% of the 26900 total employees - it can generate a bearish signal
UBER Technical and Fundamental Analysis - Short termNYSE:UBER
Based on Technical, but mostly on fundamental analysis, Uber, for a short term analysis should go down.
UBER has to face a lawsuit claiming its illegal predatory pricing and other anticompetitive practices killing competition, including the accusation of secretly booking and cancelling rides on competitors' app.
Lyft keeps following UBER and Vice versa, it might imply that the Uber's fundamental information did not have anY impact on the priceS or, the Uber's prices already take in account in the fundamental information (BEARISH MARKET) and that Lyft stock tend to follow UBER.
Uber stock analysisUber has reached the high erea of confluence of $28.30 which acted as resistance and support in the past.
There is a MACD crossing which may mean the discontinuation of the current bearish trend
RSI is bellow 30, means it's oversold
Wait for it to confirm staying above that point and go long.
UBER Downward Break From Ascending Triangle | TP $21.67UBER about to break out downwards of ascending triangle. DM+ / DM- projected to meet in 1-2 days confirming downward sales pressure. Climb pressure has been declining suggesting strong break-out about to occur. RSI has already begun to come down from local maxima.
Take profit set at 21.67, the next local resistance. May come down as far as 13.71.
UBER ($UBER) - Trendline/Fib RejectionUber successfully close below the 61.8 fib and rejected the long term trendline. I'll be targeting the $29 area.
UBER long ?NYSE:UBER crossed back above the 50% retracement of the downtrend after consolidating for 20 days and might indicate a reversal if the market continues higher.
Another set of fibs traced from the bottom of the bounce to consolidation zone projects the first target at 32.45 and second at 37.54
A reasonable stop would be set below the support of consolidation at 26.40
3 possible scenarios :
Breakout with no retracement: price hits the first then the second target
Breakout with retracement: price hits the first target, retest the breakout line and continues higher to hit the second target
False Breakout: price reverses back and breaks consolidation support
UBER Longer Term holdings moving ITM Our longer term holdings on UBER is slowly moving in the money but the thrust out of the Non-Limiting triangle should be approximately equal to the widest wave of the Triangle. Since market conditions are unusually strong (probably climatic) if the Expanding Triangle is drifting upward, Non-Limiting patterns is the Non-Limiting “thrust” will not terminate during the time period occupied by the apex point.
UBER BreakoutChart is self-explanatory. Basically follows roadmap from my MRNA idea up to the resistance drawn.
