UBER trade ideas
Uber for long I've been Watching this market for a while now and I think it has set up nice for me to look for possible long positions it's currently at all time high.
potential breakout in UBER NYSE:UBER Below average volume with the 50 day MA within range while it continues to develop under 54.19 high. Ideally, I want to see another small contraction or a few days of consolidation for a breakout through 54.19 high. Note: It is not outperforming the SPY as shown in the CRS but that is typical of a name that is developing a healthy base before a breakout unless the broad market is dropping and the ticker is holding up with strength.
Top 10 2021 Picks (UBER)Distribution of vaccine and recovery to new norm post covid could drive rotation could drive UBER forward in 2021.
Expecting breakout from IPO base to extend in a continuation rally.
selling off on light volumewait for recaputre of recent highs on heavy volume to break out of current range. EPS growth expectations for UBER are strong
Christmas ShortUber has had a lot of recent small bodied candles with bullish wicks. Small body represents small price movement and the long bull wicks show where highs reached during that session. Based off the candles I can see UBER briefly hitting $54 a share but the MACD shows growing bearish divergence and D+ also shows growing divergence. Bollinger Bands have initiated a double sell signal, and RSI is flying high greatly overbought at 63.70.
My trading plan is to short it to $52 a share by 1/8
I will buy 10 contracts as close to $1.00 a contract as possible and let the market take its course.
Looking to make a modest profit of $1-2k
Comment your thoughts below!
UBER Channel & fib lines from recent larger moveUBER channel with median line acting as resistance. Retracement back to the 0.236 and 4hr cloud acting as support. onward and upward back to revisit the median line.. Thinking golden pocket by beginning of February.
Uber consolidation and then upUber consolidation, broke ascending channel and back to 49 support level
Friday Price PredictionThis prediction is based on the 4hr chart. MACD shows weakening bearish strength while Bollinger Bands are also starting to trend up.
a couple outcomes herecould keep grinding up and hit 60s in earl 2021... or pullback and enter its old trend channel, if you got in before that huge green impulse congrats :) and remember it never hurts to take a profit. goodluck :)
Flat tire or reversal?Trending downward after failing to break resistance at 39.
Holding support would be an opportunity to go long, however breaking support 29.50 is likely.
Headwinds:
California state law to provide benefits to all drivers is still out there, this could have a significant impact of UBER/LYFT.
COVID outbreak shouldn't have too much of an impact for UBER as they have continued to expand UBER EATS.
EPS was a negative prior to 2020 and still a problem.
Tailwinds:
UBER EATS growing above expectations
Increase usage of ride sharing services
oversold, possible reboundPlease note: I'm just sharing my view. its not a recommendation for buying or selling.
Uber Uber Found Its Oil In Business In The Second Half Of 2020
Back in the first quarter of the year, Uber suffered a loss of $2.94 billion. Then, it became known that they bought a food delivery service. By the end of the summer, Uber Eats had become the company's largest service, revenue in the second quarter more than doubled. Uber also won a license dispute in London in September.
Technically, the UBER share price is moving in an upward channel. We have recently touched the upper boundary of the channel. Most likely the price will go to the support zone in the near future.
Best regards EXCAVO
Long Way From ResistanceUBER is far from resistance, and with growing bullish divergence we can expect it to hit $52 again. I have 10 calls for $52 a share by Friday. On top of the bullish divergence, we already received a buy signal from the Bollinger Bands.
Comment Your thoughts below!
