UPWK a top gainer, rising +105.26%. Expect Uptrend reversalUpwork (UPWK, $14.82) was one of top quarterly gainers, jumping +105.26% to $14.82 per share. Tickeron A.I.dvisor analyzed 156 stocks in the Packaged Software Industry over the last three months, and discovered that 139 of them (89.06%) charted an Uptrend while 17 of them (10.94%) trended down. Tickeron A.I.dvisor found 25 similar cases when UPWK's price went up 15% within three months. In 25 out of those 25 cases, UPWK's price went down during the following month. Based on these historical data,Tickeron A.I. thinks the odds of an Uptrend reversal for UPWK are 90%.
The Aroon Indicator entered a Downtrend today. Tickeron AI shows that in 54 of 67 cases where UPWK Aroon's Indicator entered a Downtrend, the price fell further within the following month. The odds of a continued Downtrend are 81%.
UPWK trade ideas
$UPWK Trade setup for Upwork Upwork, Inc. operates an online marketplace that enables businesses to find, hire, and pay freelancers for short-term and longer-term projects. Its marketplace offerings include Upwork Basic, Upwork Plus, Upwork Business, Upwork Enterprise, and Upwork Payroll. The company was founded by Odysseas Tsatalos and Efstratios Karamanlakis in December 2013 and is headquartered in Santa Clara, CA.
UPWK looks to retest the 13s by the end of June or early July11.85 seems to have made a very strong resistance and UPWK has been moving in right direction in the bull triangle for awhile. Price could fall back to 11.85 in the next day or 2, but this will probably only delay the move back to the 13s. Patience will be key here.
Lines Legend
1. Horizontal lines: Used to mark out major resistances and support based on points with larger trading volume (buy & sell), as well as any gap(s).
2. Diagonal lines: These are trend lines to mark out the price points that would if the stock is still bullish or bearish
Technical indicators used
1. VWAP
2. EMA
3. RSI
FIrst post on tradingview, but I have been working with these tools and made a nice run over the last year. Let me know your thoughts :)
$UPWK can fall in the next daysContextual immersion trading strategy idea.
Upwork Inc. operates an online talent marketplace that enables businesses (clients) to find and work with various independent professionals and agencies (freelancers) in the United States, India, the Philippines, and internationally.
The demand for shares of the company looks lower than the supply.
So I opened a short position from $11,71;
stop-loss — $12,75.
Information about take-profits will be later.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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Upwork Finances.Upwork is a company that mainly makes money as their hired consultants make money. So the more employers hire people through the service the more revenue they generate. This could be problematic long term as after they hire a "temporary employee" because thats whats assumed through the program if they decided to hire them long term after their term is over then Upwork gets nothing. AND they just lost future revenue. PLUS
Over the past few years they have been in the hole.
We have a history of net losses, anticipate increasing our operating expenses in the future, and may not achieve or sustain profitability.
Quote from their SEC filing 10-K
I will be looking for a SHORT when it seems they have peaked.
RED LINES=DAILY support/resistance
PURPLE LINES= Weekly support/resistance
A lot more pricing information at those higher price points. What could've dropped the price is that they've had an offering so that they can manage extending the life of the company. More offerings means a lower price.
UPWK: $15 Short +9% Growth TargetFirst off, please don't take anything I say seriously. As always, this is on opinion based basis and not meant to be taken as financial advice. That being said, let me get into a few of my key points. Upwork's financials aren't too great, which is why I'm not very bullish long term. However, given the moving averages and resistance level, a $15 threshold price crossing is likely EXTREMELY soon.
Confirmed Trend Reversal - Needs to Break $7.90 and retest itAll,
Upwork is definitely in an uptrend for now on the 1H etc. We have to confirm on a higher timeframe that it holds above $7.90 level with a re test. You of course could get in now, but absolutely make sure your trailing stop loss is 5-10% below the uptrend bottom support. Once it breaks it could be the start of a longer uptrend that could go on for weeks.
REMEMBER UPWORK IS A FREELANCING COMPANY. People work from home...
This could get veeeerry interesting!
"If" this turns out to be a viable Inversed H&S pattern, the target is 17ish, which would put the candle crossing over the 50 day MA (what we call gaining support), which is a buy strategy when you swing trade moving averages (half position for some). If that strategy plays out then we would likely see the 20 MA cross above the 50 MA as well, which is another buy with a moving average (many would now take a full position). If things work out this could get very interesting very fast; might I suggest we watch this one with hopeful anticipation?
Also see fromhttps://www.tradingview.com/u/Reallifetrading/