UBER trade ideas
Somebody call me an UBER pleaseWait, I have the app. I can do that myself.
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My trade ideas are just that, ideas...and 100% free. DO YOUR OWN DD!
My trade ideas are not an endorsement of any company or product. I will sometimes incorporate news or other info that may be a catalyst for expected price action, but it is only a catalyst. I consider all of my trade ideas to be short term swings. They are ideas that are days or weeks in length and not day trades. I have decided to not provide entries, stops or targets. If you don’t know how to manage your own risk with correct position sizing and stops/targets then you should not be trading live in my opinion.
All of my ideas first focus on price action resulting in predictable patterns and their conclusions. I incorporate Harmonics and Elliott Wave to complement and add strength to these ideas. Depending on the timeframe it is difficult to display some of them. Ultimately, price action and volume rule. The market and individual stocks do not care about my or your opinion on how “cheap” or “expensive” shares or contracts are.
Green Harmonics are bullish, red are bearish. But look at where price is relative to the pattern for expectations of next moves. I often catch Harmonics before completion, so a bearish pattern may still be a bullish move until it completes. Elliot Wave bull/bear counts will be green/red accordingly. After a wave count there are a number of possible next moves.
Lastly, these are all trades that I would and do take.
I hope to provide some value to your trading education, nothing more. Good luck to all.
Things to look for I am bearish for UBER on the short term based on technical analysis and I have pointed everything out I look for. I will explain each aspect from Upper Left to Bottom right in order. Everything is also color coded.
Sell signals: Red sell signals are given by Guth 3x confirm and D+ both of these scripts use formulas based on market to provide accurate sell signals.
MACD: The king of showing divergence is the MACD. As you can see, the green bars are shrinking and fading while a new red bar is starting to form. This shows that buying strength ( green ) is weakening, and selling strength ( red ) is strengthening.
Candle stick analysis: If you look at the last two 30 min candles, you can see there are two long whicks at the top instead of a solid bar, this means the price made it that high but did not close there due to price being too high, which could be a sign of resistance.
Kurotoga Cloud: Finally the teal shaded cloud beneath the candles is the support level for UBER for the 30 min chart. Support is where the price can bounce off of or fall below if selling power is strong enough. The amount of space between the cloud and the candles show me there is room for price to fall.
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UBER 🌦Uber looking to retest 50$ before potentially running up in anticipation to earnings in June. It was recently announced that Uber experienced an increase in average daily gross bookings in March. Obviously this is good news however in technical analysis good news doesn't always mean much. I expect this announcement to be short lived. The pattern forming looks to be a regular/irregular flat Elliot correction wave.
$UBER Nest and wedge is getting very closeThe constant 1-2 1-2 1-2 waves put in on UBER scream consolidation at these levels. The current daily 8 EMA to 21 EMA crossover might be telling us that a big move is on it's way. UBER has also been getting strong order flows last few days, possibly expecting a move higher from this wedge. I have identified clear resistance levels above that UBER needs to break in order to continue a strong trend higher. I am keeping a close eye on the Stoch RSI as well since it is showing signs of an incoming pullback this week.
Uber 1h Chart UBER has been in my eyes for a while now, as we played it earlier in March. There has been a lot of sideways trading with Uber last week. Off the Fibonacci lines, we see it trading right in between the 55.83 (38.2%) and the 58.97 (61.80%) lines. As of Friday Market’s Close, Uber was trading above all EMA’s / MA’s / VWAP. Watch for a small pullback for the stock to the $55 - $56 (around the 38.2% FIB line) before we see it pick up more in volume and break out of the triangle.
Somebody call me an UBERLesgo!
-----------------
My trade ideas are just that, ideas...and 100% free. DO YOUR OWN DD!
My trade ideas are not an endorsement of any company or product. I will sometimes incorporate news or other info that may be a catalyst for expected price action, but it is only a catalyst. I consider all of my trade ideas to be short term swings. They are ideas that are days or weeks in length and not day trades. I have decided to not provide entries, stops or targets. If you don’t know how to manage your own risk with correct position sizing and stops/targets then you should not be trading live in my opinion.
All of my ideas first focus on price action resulting in predictable patterns and their conclusions. I incorporate Harmonics and Elliott Wave to complement and add strength to these ideas. Depending on the timeframe it is difficult to display some of them. Ultimately, price action and volume rule. The market and individual stocks do not care about my or your opinion on how “cheap” or “expensive” shares or contracts are.
Green Harmonics are bullish, red are bearish. But look at where price is relative to the pattern for expectations of next moves. I often catch Harmonics before completion, so a bearish pattern may still be a bullish move until it completes. Elliot Wave bull/bear counts will be green/red accordingly. After a wave count there are a number of possible next moves.
Lastly, these are all trades that I would and do take.
I hope to provide some value to your trading education, nothing more. Good luck to all.
My picks for the rest of 2021Last year it was all about tech tools that helped society to continue functioning during a worldwide lockdown.
Stocks including zoom and Peloton led the tech rally (TQQQ) which also pulled along others unintentionally(Tesla).
Bonds have been under strong focus recently ever since concerns of inflation starting picking up.
But many investors have been trying to figure out what industries will be the winners of 2021. Banks, entertainment, retail, travel.
My hypothesis is that brick and motor retail will see more revenue in 2021 especially after the third round of stimulus checks.
Large cap stocks with crazy PE ratio’s made the most amount of gains but just by gauging from the media, value and small cap time has come to shine.
Companies with the lowest p/e ratios will see good returns.