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UBER TECH. DL-,00001UBER TECH. DL-,00001UBER TECH. DL-,00001

UBER TECH. DL-,00001

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UT8 trade ideas

Uber Potential Breakout, Target $52After a March all-time low (ATL) under $20 a share, UBER took a strong bounce back to the $30 range and looks to be in a consolidation pattern. Special note: There is still much room to the downside that may need to be cleared out. However, the scale and diversity of Uber's product line and growth strategy do have potential. Should UBER post a profitable quarter, this would take off. Strategy for a price move down: Suggestion to set buy ladders at the support lines and Fibonacci retracement. Weight buy orders more heavily to the lower ranges .5 and .786, etc. Strategy for a price move up: Resistance exists around the $38-40 mark. If we see a breakout to these levels with strong volume candles, we would call this confirmation, take a big order, set our stop loss at $35, and take small profits at $50-55 while remaining in the stock. Use this strategy to further reduce your average cost. Elliot wave theory suggests that if we breakout we would be in a wave 3 of 5, which tends to be the longest breakout. Given the potential momentum for a name like UBER we would likely hold in that future scenario. Should either of the above 2 scenarios materialize, we can confirm our strategies and regroup to map out the next potential move up. It I presently give UBER a HOLD rating, with a lean to BUY if only to hold a small position to take advantage of either move. NOTE: ALWAYS TAKE A STOP LOSS IF YOU ARE TRADING A SHORT TIME RANGE WITH LIMITED FUNDS. Disclaimer: I am not a professional and am self-taught. My charts are made for my own education to improve my trading strategies over time. I am always open to feedback or being pointed in the direction of resources to up my game. Thank you!
NYSE:UBERLong
by Shadowfigure
4
UBER: update on long positionQuick update on where we are with UBER - we still hold the long position through the drop that happened earlier in August on the tail of the negative news regarding legal issues - which interrupted a possible breakout - UBER is attempting another breakout with renewed demand and bullish sentiment according to the V.Viewer and the UTO -- the UTO is also showing a positive momentum to the upside - UBER today entered the make-or-break zone - the next few days will determine if the current breakout attempt will succeed - if it does, we can look potentially at hitting the $37 to $39 range - the breakout needs to be confirmed by a "hook" - a bounce up off that resistance zone on the chart - the weekly (not shown here) is in line, showing an end of a bearish cycle and a possible start of a new bullish wave up keeping the long position open for now.
NYSE:UBERLong
by RedKTrader
2