Uber Turning the Corner?UBER looking good here. Down 46% off ATH in early 2021. Uber has seen a slow bleed over the last year, as opposed to the more dramatic, precipitous fall of many other stocks. Price appears to be finding support at a historically active Demand Zone. Support appears to be building on the Daily chart. I'm interested at these prices but I'm expecting some more sideways chop before UBER can break resistance.
-Mercury
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UBER trade ideas
#UBER fib leveles #UBER so if the fib levels are correct from our most recent swing low we wicked that .768 level and bounced off for a potential short term opportunity for calls to the upside at the 34, 35, 36 strike as there is a huge level at 37.50, looking at some flow data 35 strike for the 20th of may has 67 thousand OI sitting on it now 40 has 41 thousand both of which are interesting to me. looks like most short dated contracts are looking at that May 20th date or the Jan 2023
Uber recovering. UBERGoals 0.56, 0.49. Invalidation at 0.89.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in green with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
UBER: Sell Zone is 39-41Uber's 5-wave move off the low appears to be taking the form of a leading diagonal. W-5 within this larger degree W-1 should top around the $39-41 region near the end of April/Early May. After that, UBER should pull back to about the 31-33 region before beginning its W-3. Sell in May and Go Away
UBER: Weekly Morning Star Doji Within a Falling WedgeUber right now is at the bottom half of a Falling Wedge and has printed a Weekly Bullish Engulfing Candle against a Morning Star Doji at a Horizontal Support and at RSI Support and looks like it's preparing to begin a new major move back up from here.
UBER Could Test $36 Soon If The Price Will Hold Above $32Uber Technologies, Inc. (Uber) is AN American mobility as service provider. It is based in San Francisco with operations in approximately 72 countries and 10,500 cities.
Its services include:
ride-hailing,
food delivery (Uber Eats and Postmates),
package delivery,
couriers,
freight transportation,
electric bicycle and motorized scooter rental via a partnership with Lime,
ferry transport in partnership with local operators.
Uber does not own any vehicles; instead, it receives a commission from each booking. Fares are quoted to the customer in advance but vary using a dynamic pricing model based on the local supply and demand at the time of the booking.
Technical Analysis:
UBER could test $ 36 soon if the price will stay above $ 32 over the next week.
This is necessary because 32 is a small resistance area that can be major support
if the price should manage to break through it in the coming days.
This bullish volume will help UBER to increase up to $36 in the coming weeks.
Thank you and Good Luck!
$UBER - How do you see it playing out?Uber has been in a down trend channel and currently trading at the lower trend line of the channel. The question is will it bounce from here or will it break below the lower trend line?
Per fib extension, $31.72 area could be a support. However, a better support would be $28.58 (the yellow line). If the price breaks down to $28.58, it would mean the price has broken below the channel. It's extremely bearish.
But if we look at the history, the area has acted as support multiple times in the past.
A bull might bet that the price will bounce from 31.72 area and head towards $37.67 with a tight stop loss at $31.
A safer entry would be around $28.58 again with a tight stop loss at $26.
It's hard to trade in the current headline driven environment.
How would you play?
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines show support and resistance areas.
- Fib lines also show support and resistance areas.
- The dotted white lines show the price projection for breakout or breakdown target.
Disclaimer: Not investment advice.