UBER due for a correctionwe are almost done if not done wave 5 and now we might see a upcoming retracement. Another thing I spotted was a bearish RSI divergence. there are multiple key factors on why I think UBER is bearish.
UBER trade ideas
UBER - Short IdeaI can see some UBER going for a correction to 58-57 area. Based on my analysis of the current financial market, I believe we are going for a surprise. At least momentarily...
When there is FOMO and GREED and everyone wants a piece so they put all their monies and go long at the tops, what do you think usually happens? ;)
I can be wrong, but hey its a game of probabilities. Good luck
#options -> ill give it roughly 2 month to play out. Expiry mid march
Uber's Strategic Shift: Navigating the Stock's Intricacies
In a bold move reflecting Uber's commitment to a unified and streamlined delivery experience, the ride-hailing and food delivery giant announced the discontinuation of its alcohol delivery app, Drizly. The decision, effective January 16, 2024, forms part of a larger strategy to consolidate its various delivery services, ranging from food to groceries and alcohol, under the flagship platform, Uber Eats ( NYSE:UBER ). This article delves into the implications of this strategic shift and analyzes the impact on Uber's stock performance on this pivotal day.
Uber's Stock Dips: A Closer Look
On January 16, 2024, Uber's ( NYSE:UBER ) stock faced a minor setback, with a decrease of $0.27 in share price, marking a 0.43% decline since the previous market close. While such fluctuations are common and can be attributed to factors like market dynamics and investor sentiment, the decision to shutter Drizly likely played a role in shaping market perception. Investors, always vigilant to changes in a company's strategy, responded to Uber's consolidation efforts with cautious consideration.
Financial Rollercoaster: Revenue Surges, but Challenges Linger:
Uber's financial report for the year leading up to January 16, 2024, paints a mixed picture. Total revenue soared to an impressive $31.88 billion, reflecting an 82.62% increase from the previous year, driven by a surge in demand for delivery services during the pandemic. However, the joyous revenue surge is tempered by concerning figures in net income and earnings per share (EPS).
Uber ( NYSE:UBER ) reported a staggering net loss of $9.14 billion over the past year, a stark contrast to the third quarter's net income of $221 million. This drastic shift indicates the challenges Uber faced in turning its revenue into sustainable profits. The earnings per share (EPS) mirrored this struggle, dropping to -$4.65 over the year, reflecting a decrease of 1673.86% compared to the previous year. Even in the third quarter, while Uber managed a positive EPS of $0.10, it marked a 46.18% decrease from the preceding quarter.
Drizly's Demise: Streamlining or Unraveling?
The decision to close Drizly is undoubtedly a strategic move to streamline Uber's delivery services, offering users a seamless experience through Uber Eats. However, the departure of Drizly raises questions about Uber's ability to successfully navigate the evolving demands of the market. Investors may be pondering whether this streamlining effort will indeed lead to operational efficiencies and improved profitability or if it marks a potential unraveling of diversification attempts.
Conclusion: Navigating the Uber Stock Landscape
As NYSE:UBER charts its course through the evolving landscape of the delivery services industry, investors find themselves at a crossroads. While the closure of Drizly aligns with Uber's goal of a more consolidated and user-friendly experience, the financial challenges underscore the complexities of translating revenue surges into sustainable profits. The stock market, as always, remains a dynamic arena influenced by multifaceted factors.
Immediate short swing on UBER!Thank you as always for watching my analysis. May God bless you and your family this new year!
1 John 4:19.
Breakout w/ tighteningFits the criteria of what I'm aiming for so I went long today after missing the breakout yesterday. Stock in an uptrend... i.e. 10 / 20 / 50 ema's are all sloping upwards, declining price volatility after a large move (price tightening) along with declining volume while consolidating after a big move.
One concerning note is the low trading volume during the breakout. We'll see how it plays out.
Entry: 63.32
Stop: 60.51
Taking UBER for a short ride :)As of today, UBER is braking hard after a long distribution / sideways move
my target is $58
Bearish on UBERdaily looks like it topped.
long wick with a lot of volume.
if it breaks support intra-day at 61.48
there are a lot of gaps to fill below.
short term bearish but long-term bullish on elliot wave formation
UBER LET'S TAKE A RIDEHello Traders, I am Hadi Karaali, Known as SNIPERS_FX
If you like the idea, do not forget to support with a like and follow.
Eyes on UBER, What's next!
As we can see price is clearly overall bullish trading inside this channel.
Meanwhile, price is sitting around our all-time high and a strong round number, lining up with our upper bound of this channel, which can be acting as an over-bought zone.
Moreover, as we are sitting here, we will be looking for new bearish correction movements.
And for the bears to kick in and prove control, we need a break below the marked major swing low, then a movement lower would be expected.
If that happened, then we will start looking again for new longs around our lower massive support zone and rising trendline to catch the next bullish movement.
And as usual follow your trading plan and manage your risk.
Don't forget to support with like and follow if you like the content.
Be patient and good luck!
Looking Bearish on UBER.
Hello everyone, thank you for taking time out of your day to read my analysis on $NYSE:UBER.
As you can see here on the daily chart, we are approaching a major supply zone. We are also very over-extended from the 200 EMA, extremely oversold, and it looks like the buying pressure on the MACD is slowing down. Now, all I would wait for is a big push (a strong bearish candle) out of this zone with a good amount of volume to verify the rejection. I would look to swing trade this position. As you can see here on the chart, the green line would be my Take-Profit because it was a previous point of resistance that we blew through. As always, again, thank you for reading and looking at my analysis on this stock. Merry Christmas and may God bless you and your family.
LOOK FOR BUYS FROM THE BOTTOMHello,
Uber still prides itself as the king of online transport booking in similar ways to taxis priding itself with over 19 million trips a day. Uber Technologies, Inc. (NYSE: UBER) will hold its quarterly conference call to discuss its second quarter 2022 financial results on Tuesday, August 2, 2022.
Revenues continue to increase due to the easing of COVID -19 restrictions. I expect a better performance than what we saw in 2021 for Q2 as well. The EPS is still expected to be in the negative territory.
From a technical point of view we are at the bottom. The lower this stock comes will be a great point for us to buy. The recession is expected to keep weighing the stock further downwards as competition continues to eat into Ubers customers.
RECOMMENDATION: WAIT WITH A BUY BIAS.
Good luck!
UBER short positionHi traders,
let's have a look at the UBER chart.
The price is now in the uptrend.
RSI is showing overbought conditions on the price.
We can wait until price reaches the resistance line and then take short position.
Entry price, target and stop loss for the short position are shown at the chart.
Uber: Support and resistanceUber is very expansive to many people.
Uber eats charges are crazy.
Still Uber stock is holding good.
Once recession hits, people will not order much of uber. Remember COVID times.
I think uber will be hit hard in the coming recession.
Cheers
Uber(NYSE: $UBER) Shares Surges on Inclusion in S&P 500Key Takeaway
1. Uber is joining the S&P 500, according to an announcement late Friday.
2. The ride-hailing company generated positive earnings in the latest quarter and over $1 billion in profit in the last four periods.
3. Uber has a market cap of about $118 billion, while the median market cap of companies in the S&P 500 is just over $31 billion.
Uber shares rose 5% in extended trading on Friday after the ride-hailing company was added to the S&P 500 Index, replacing Sealed Air Corp.
The change will take place prior to the open of trading on Monday, Dec. 18, according to a press release.
A company’s stock price often rises on news that it’s joining the S&P 500 because fund managers who track the benchmark, which gets updated each quarter, have to acquire the shares. Companies also have to meet certain valuation and profitability requirements.
Uber shares debuted on the New York Stock Exchange in 2019, but the company was burning cash as it had to pay drivers enough money to stay competitive in a low-margin business. Its preferred metric was adjusted earnings before interest, tax, depreciation and amortization, or EBITDA.
Most of Uber’s adjusted EBITDA comes from mobility, but the company made its delivery business profitable faster than planned, after recession-fearing investors became more averse to investing in money-losing companies. Growing advertising revenue has also contributed to Uber’s profitability.
Uber eliminated more than 3,500 jobs in 2020, and executives have since worked to improve its cost structure. For example, they reduced the cost of deliveries. Uber reported net income of $221 million on $9.29 billion in revenue in the third quarter, and in the past four quarters altogether, it generated over $1 billion in profit.
According to S&P’s rules, members of the index must have positive earnings in the most recent quarter and over the prior four quarters in total. Constituents of the index must have an adjusted market cap of at least $14.5 billion.
Uber has a market cap of about $118 billion, while the median market cap of companies in the S&P 500 is just over $31 billion.
Price Momentum
UBER is trading near the top of its 52-week range and above its 200-day simple moving average.
What does this mean?
Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.
UBER Technologies Options Ahead of EarningsIf you haven`t sold UBER here:
or bought the dip here:
Then analyzing the options chain and the chart patterns of UBER Technologies prior to the earnings report this week,
I would consider purchasing the 50usd strike price Calls with
an expiration date of 2023-12-15,
for a premium of approximately $1.84.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
NVDA EarningsTicker and Sector: This indicates the company and the sector it operates in. Sector performance can give insights into broader economic trends.
Earnings Release (ER) Date: The date on which companies report their earnings is critical for timing the analysis.
Beat/Miss Percentage: This represents the percentage of times a company's reported earnings have beaten or missed analysts' expectations. A higher beat percentage is generally viewed positively.
Price at Last Earnings Release vs. Current Price: This can indicate market sentiment since the last earnings report. A rising price may suggest positive investor sentiment, while a falling price might indicate concerns or negative performance.
Earnings Expectation for This Quarter (EPS and Revenue): Comparing this quarter's expectations with the actual earnings last year provides a sense of growth or contraction.
Trend: This refers to whether the company is expected to report more or less money. This trend can be aligned with the overall economic situation, sector performance, and company-specific news.
Market Expectation: Whether the market expects the company to meet, beat, or miss earnings can influence stock price movements.
To analyze and forecast market direction based on this data:
Identify patterns in earnings beats or misses across sectors to determine broader market trends.
Assess individual company performance based on the beat/miss history and current market expectations.
Consider macroeconomic factors and sector-specific trends that may impact these companies.
Analyze stock price movements post-earnings release to gauge market sentiment.
The analysis should conclude with a forecast that takes into account these factors, providing a reasoned prediction on whether selected companies are likely to beat or miss earnings expectations and how their stock prices might respond. It should also consider potential risks and advise on stop loss levels to manage those risks.
Uber Up 113% For 2023!Uber's stock market journey has been a rollercoaster of highs and lows over four and a half years. The stock reached a high of $64 in February 2021 but plummeted to $13 by March 2020.
During a challenging period from February 2021 to June 2022, the stock saw a 68% decline but found crucial support at $20. In January 2023, it crossed the significant daily 200 simple moving average at $27, indicating a shift in investor sentiment.
The stock continued its upward trajectory, surpassing $40 in June 2023 and then facing resistance at the $50 mark in July 2023. It retreated to $40 in October 2023 before breaking past $50, aided by Q3 earnings reported on November 7th. Despite earnings being slightly below estimates, the stock closed up nearly 4%.
Since the earnings report, Uber's stock has risen by 15%, with a year-to-date increase of 113% and a 25% rise in November alone. As it approaches its all-time high of $64, there's anticipation about its ability to set new records and possibly establish a long-term bullish trend. However, given its volatile history, the future remains uncertain as investors watch to see if Uber can maintain sustained growth.
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Uber Tests New Uber Tasks Service To Diversify EarningsUber Technologies Inc . (NYSE:UBER) is piloting a new service called Uber Tasks in select markets, aiming to expand beyond its core ride-sharing and food delivery services into the gig economy. The initiative, first reported today, is designed to offer more earning opportunities for Uber's six million drivers and couriers.
The pilot program for Uber Tasks will launch in Fort Myers, Florida, and Edmonton, Alberta, Canada. This move follows the company's introduction of new safety measures earlier this week, including an expanded rider verification program and the "Record My Ride" feature that allows drivers to record trips using an iPhone's front-facing camera.
Uber Tasks will enable app users to hire gig workers for household tasks such as furniture assembly, lawn mowing, snow removal, packing/unpacking, holiday decorating, and yard cleanup. Drivers and couriers can see earnings estimates before signing up for tasks. This strategic expansion could position Uber as a formidable competitor in the gig economy landscape, currently dominated by platforms like TaskRabbit, Thumbtack, Handy, and Angi.
TaskRabbit, acquired by IKEA in 2017 after raising $38 million, could face significant competition from Uber if Uber Tasks expands globally. However, challenges such as competition from newer players like Revel and safety concerns highlighted by a consolidated lawsuit involving 3,800 riders alleging sexual assault by drivers may impact the service's success.
Despite these potential hurdles and posting over $9 billion in revenue last quarter—the smallest growth in two years—Uber is seeking new growth avenues as the ride-sharing and food delivery markets become increasingly saturated. The company's recent ventures include a "Return a Package" service launched last month and plans to start accepting FSA payments from 2024. These initiatives are part of Uber's broader strategy to diversify its offerings and revenue streams amidst heated competition from other delivery apps like DoorDash (NASDAQ:DASH) and Instacart (NASDAQ:CART).
Technical Analysist
Price Momentum
UBER is trading near the top of its 52-week range and above its 200-day simple moving average.
What does this mean?
Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.
VIX is near the bottom and UBER is at the maximum.At the moment, the Bearish Greed indicator shows that UBER is in the green short zone, which is creating good momentum.
Uber Stock: Relative Strength Hits New HighWith its earnings report out of the way, Uber stock is breaking out from a double bottom base pattern with a 49.19 buy point.
On the stock market today, Uber shares are up 3.8% to 49.90 in recent action. Uber released earnings results Tuesday morning. Third-quarter earnings and fourth-quarter bookings guidance topped estimates. Revenue was short of expectations, however, which the company pinned on accounting changes.
The stock traded lower premarket but has since recovered to post significant gains. Overall, Uber shares have gained more than 90% this year.
Uber Stock: Q3 Earnings Beat, Revenue Light
Early Tuesday, Uber reported third-quarter earnings of 10 cents per share on sales of $9.29 billion for the third quarter ending Sept. 30. Analysts expected Uber to post earnings of 7 cents per share on sales of $9.54 billion, according to FactSet. Some other estimates had called for earnings of 12 cents per share.
In the same quarter last year, Uber lost 61 cents per share on $8.34 billion in revenue.
Total third-quarter bookings climbed 21% year over year to $35.3 billion, compared to expectations of $34.6 billion. Bookings for the Rides business climbed 31% year over year to $17.9 billion. Bookings for the Eats, or delivery, business climbed 18% to $16.1 billion.
Uber routed 2.4 billion trips during the quarter, up 25% from the same period last year.
The 10% revenue gain marked a sixth straight quarter of decelerating sales growth.
However, the company noted that some accounting changes contributed to the lower than expected sales number. Uber Chief Financial Officer Nelson Chai said in prepared remarks that the changes reduced revenue by $521 million for the quarter.
Second Straight Operating Profit, Strong Outlook
Uber reported a third-quarter operating income of $394 million, compared to a loss of $495 million last year. The second quarter was Uber's first ever with a profit from its ride-hailing and delivery operations.
Net income for the third quarter was $221 million, recognizing a $96 million headwind that is primarily from unrealized losses on Uber's equity investments.
For the current fourth quarter, Uber projects gross bookings between $36.5 billion and $37.5 billion. Analysts were estimating $36.52 billion. Analysts largely saw positives from the report.
Uber Stock: Relative Strength Hits New High
Uber stock's Relative Strength Rating score is at 96 out of a best-possible 99, indicating it is significantly outperforming the market.
Technical Analysis
Price Momentum
UBER is trading near the top of its 52-week range and above its 200-day simple moving average.
What does this mean?
Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.
UBER - ATH likely in 2024
I must admit despite all the TA I have tried with this name, profit has eluded me because most upward action has bee around ER. I have tried not hold big positions into ER, but this name has proved me wrong last three times.
Bounced off of 60 VMA nicely an caught fire. another test of 45 or flag above would set this up nicely for 60.
despite sluggish volume, this has help up really well. Suggests institutional ownership is high and when market conditions improve, this is likely to blast off.
No position
Asset light vs light assets #UBER vs #ABNBThe asset light model is best referenced by one that services a need like transportation allowing the user to benefit for the micro-service, no additional cost for the maintenance of the assets.
In today's economy when cost of car ownership, financing, insurance, etc the millennials are not buying cars, they are renting rides. Unfortunately there are limits to the renting of assets, one thing is commuting twice per week to the #coworking space. Another is renting the space or going on vacation to rent the #ABNB which has proven to be sometimes more expensive than a comparable hotel room across the US.
As such the market power and consolidation of #UBER and the competitor we tried recently #LYFT makes it the ridesharing a more resilient model. Ideas emerging for a portfolio!
Uber may have room for downsideBreak and close below $43.50,
May see downside and support at around $40.70
