UT8 trade ideas
$UBER Performing in a Sym. Triangle - Breakout soonOn the Daily, UBER is performing a textbook symmetrical triangle and is ready for another breakout soon. Weekly levels in purple color gives us the range for starting up a trade position. MACD is giving is bullish divergences too. Measured move is included as I have placed 2 price targets. One for a little long action in between the triangle and another one soon as the price breaks out of the triangle and uses it again as a backtest on the spring/ weekly level again. important: Watch for confirmation!
Performance Rank based on Bulkowski during in a bull market: 16 out of 23
Break even failure rate: 9%
Average rise: 31%
Change after trends end: -31%
Volume trend: Downward
Throwbacks: 37%
Percentage meeting price target: 66%
Thank you!
Symmetrical TriangleUber broke up from the triangle but experienced a throwback and is now back inside.
Any triangle can break up or down and is a neutral pattern until a trend in the direction of the break out is established.
Throwbacks hurt performance. A throwback is not a pull back. Pull backs are healthy and every security is expected to pull back and some point. Throwbacks can be temprary and defined as price breaking out past long entry level, or out of the pattern, then returning.
No recommendation.
I counted the first touch on the top trendline becuase price enter this consolidation pattern from below in the overall trend, but iffy on the short term trend. This one really could have the 1st touch placed on the bottom, your call. Often the 5th move within a triangle is the charm, but not always. Price can spend quite a while inside before the direction is determined.
There is also a gap under price.
UBER - LONG - TARGET 63.71UBER - LONG
- Broke Triangle
- 4 day balance zone, im going to quote these long drug balance zones/triangles as a "trickle charge," especially if this plays out how I think it will. Buyers and sellers fighting in this zone, slowly charge up a strong movement to the down or upside to ultimate victory for one side (short sellers or long sellers). This is the current state of UBER and it looks to me as if the bulls have won and we should see one swift move to upside.
- Confluence between resistance and longer term trend line makes for a good profit target with really no solid resistance in-between.
- Good entry will be the break above the last 30m candle(60.85), setting the stop loss at the upper channel of the triangle.
UBER Breakout ideaPrice action currently forming a ascending triangle setup on the 1 hour chart. It seems to be a good setup for breakout play.
1. Price currently around the POC (60.69) with key resistance at 60.97 and a big chance of a pop up once these levels break.
2. 35/50 EMA seems to be holding fine with support at 58.96
3. Nice big volume on the last green candle.
Play Ideas:
1. Price breaks 60.67 resistance and keeps going, breaking 64.00 resistance (ATH) then, pulling back to bounce for more bullish direction.
2. Price breaks 60.67 resistance and keeps going, gets rejected at 64.00 resistance
Target1: 64.00 zone if we get a rejection candle.
Target2: 66.40 zone if we get a continuation.
looks great UBER pennant looking for $74 before earnings i think it could workout very well UBER lots of good news a very strong name rn i like it a lot
MACD and RSI also dont look over extended
Somebody call me an UBER pleaseWait, I have the app. I can do that myself.
-----------------
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.
Dipping near $58 Wednesday Based on candlestick analysis, MACD, D+, Guth 3x confirm, and RSI. All signs show clear downward potential.
UBER - LONGUBER:
Flagging
Look for a break above 61 resistance
Entered debit spread. Bought 60 call. Sold 64 call.
Stop out at lower channel of triangle
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.
Like the analysis? Comment your favorite stock below and I'll add it to my watchlist and you can see it featured here if you are following. So make sure to follow, and like the analysis if this is the type of technical analysis you are comfortable with.
Wait for a pullbackWe finally broke out of that triangle pattern. Few weeks ago, the chart looked extremely bearish, it is the quite the opposite now.
However, I would wait for a pullback to get a better entry, but be careful; if we close below 59.13, then we might fill that gap at 57.92
Uber looks good herenot financial advice.
PT of 63 right now.
Might wait to see if it in enters triangle again in case of a false breakout.
Uber breaking a wedge with volume in the Daily chartUber breaking the trendline of the wedge in the daily chart with an interesting volume today, being early in the day.
Target Price: 70
Expected Return: 18%
Long | UBERNYSE:UBER
Possible Scenario: LONG
Evidence: Price Action
TP1~ 59.5$
Support ~ 60.02$
Call options, strike 60$ , 4/30/2021
This is my idea and could be wrong 100%,
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.
