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1UBER trade ideas

11/5/24 - $uber - What's not to like, buying <$75 11/5/24 :: VROCKSTAR :: NYSE:UBER What's not to like, buying <$75 - cash heavy portfolio looking for some high quality "into-year-end" plays where i can leverage the book with calls in order to keep a. cash heavy for real dips and b. where i think there will be a lot to do, so i want to remain nimble - NYSE:UBER seems to check a lot of boxes. sales growth mid teens with fairly high visibility, "check". platform that doesn't have much competition "check". expanding margins "check". valuation reasonable at low 20s PE (so PEG is ~1.2-1.3x ish) "check". just beat earnings "check". - name seems to have a perma-bid for good reasons. i'm getting busy with the jan 17 2025 65C's which offer me some healthy 6x leverage. - plan is monetize 1/3 of the stake if DJT results in a further squeeze tmr... figure out what to do with the rest. but i think we'll be at 100 by next year. so i'm genuinely eyeing the jan 2027s and ironically hoping for a dip where i can get busy with bigger size and longer duration. what do u think? V
NYSE:UBERLong
by VROCKSTAR
UBER Breakaway or Pullback? Trend Analysis Bullish Momentum: Strong upward momentum with a recent gap up indicates bullish sentiment. Breakout: Price has broken through previous resistance levels, suggesting continuation. Price Action Analysis Gap Up: Significant gap up on high volume signals strong buying pressure. Pullback Levels: Potential support near $82 could provide buying opportunities. Indicator Analysis Volume Surge: High volume confirms the strength of the breakout. EMA Support: Exponential Moving Average trending up, supporting the bullish outlook. Forecast Summary Expected Movement: Anticipate further upward movement, possibly testing new highs. Key Support and Resistance Levels: Support Level: Around $80, previously a resistance. Resistance Level: Near $87, recent high. Additional Support: Potential at $77, recent consolidation area. Additional Resistance: Beyond $87 towards $90, historically significant zone. Triggers/Events: Earnings reports or market news may impact volatility and direction. Trading should focus on buying opportunities during pullbacks, monitoring key support levels, and staying alert for market events that could influence price dynamics.
NYSE:UBERLong
by candlefire-trading
Uber (UBER): What a ride!Uber (UBER): NYSE:UBER We've recently added Uber to our portfolio, noting its astonishing 400% rise from the COVID-19 low of $13.71. This surge is significant, and we anticipate that in the current wave 3 we're experiencing, the price could reach between $101 and $201. The precise target seems to lean towards the $101 mark, aligning with the 161.8% extension level. Currently, the high is at $81.86. We expect a pullback in the coming days and weeks to between $59.40 and $52.46, corresponding to the 38.2% to 50% retracement levels. There's a possibility of forming an Expanded Flat leading to wave 4, a pattern observed in waves 1 and 2, suggesting a potential deviation from the anticipated zigzag or other formations. Thus, surpassing the $81.86 mark would not be incorrect, provided it does not exceed the 138% threshold. Following this wave 4, we foresee the completion of wave 3 at a minimum of $101. A limit order will be placed at the first sign of weakness.
NYSE:UBERLong
by freeguy_by_wmc
1
Uber (UBER): Missed the Rally? Here comes new opportunitiesIt's been a while since we last looked at Uber, and the stock has moved perfectly since then. Uber reacted exactly as expected to our desired area, but unfortunately, we didn’t buy any shares at the time. If you did, congratulations – this position is now up 60.8%! Shares of rideshare companies Uber Technologies and Lyft surged on Friday, following Tesla's underwhelming Robotaxi reveal. Uber has shifted its focus away from developing autonomous vehicles and is instead concentrating on expanding its marketplace for riders and drivers. This shift has created a robust network effect, making it increasingly difficult for competitors to match Uber's scale, according to a recent report by Business Insider. Uber’s asset-light business model, which doesn't involve owning or maintaining vehicles, has been financially successful, generating $1.7 billion in free cash flow in the second quarter. Now, Uber has reached a new all-time high, and if we look back at the chart, it's easy to see a clear and powerful pattern. After entering our desired area, Uber made a sharp V-shaped correction, followed by a key level retest. In a short period, NYSE:UBER turned bullish, marking a complete turnaround. We will be closely watching Uber Technologies' upcoming earnings report, scheduled for October 31, 2024. After this event, we’ll update our chart and look for possible new opportunities.
Editors' picks
NYSE:UBERLong
by freeguy_by_wmc
15
Uber Stock Surges 9% Following Tesla’s Robotaxi RevealUber Technologies Inc. (NYSE: NYSE:UBER ) saw a sharp rise in its stock price, jumping nearly 9% in Friday's trading session. The catalyst for this upward movement appears to be Tesla’s much-anticipated Robotaxi event, which failed to impress investors. Tesla (NASDAQ: NASDAQ:TSLA ) unveiled its Cybercab concept vehicle but fell short of delivering concrete details about the timeline and implementation of its self-driving technology, which reassured investors in companies like Uber that rely on the traditional and autonomous rideshare business. Why Tesla's Cybercab Fumble Boosts Uber Tesla’s Robotaxi event was widely expected to present a major disruption to the ridesharing market, but its failure to provide substantial progress toward Level 3 autonomy (where a car can drive itself under certain conditions without human intervention) has given Uber a window to strengthen its position. According to Jefferies analysts, Tesla’s "toothless taxi" ended up being a favorable outcome for Uber, especially since Tesla did not reveal a clear strategy for scaling its robotaxi fleet or any immediate advances in its autonomous vehicle (AV) technology. Why Uber is Poised to Benefit Jefferies analysts have indicated that Uber (NYSE: NYSE:UBER ) is in a strong position to capitalize on autonomous driving as AV developers seek partnerships with established rideshare companies rather than attempting to build and manage their own fleets. Uber’s massive global presence and partnerships with autonomous developers, such as Waymo in Austin and Atlanta, give the company an advantage as it can offer fleet management, local regulatory expertise, and fleet optimization services. In the long term, this could help Uber maintain dominance as AV technology matures. BMO Capital Markets analysts echoed this sentiment, highlighting that the cost of scaling Tesla’s Cybercab project to compete with Uber would be astronomically high, estimating Tesla would need to spend upwards of $100 billion to match Uber's driver supply levels. Given Uber's established infrastructure, the company is better positioned to navigate the ride-hailing market's evolution into the AV era. In addition, recent developments like Uber's AV partnerships (particularly with Waymo) and its diverse ride-hailing and food delivery operations have made it a more resilient company in the face of technological shifts in the transportation industry. Citi analysts also reiterated a Buy rating on Uber, predicting it will continue to gain from the growing presence of AVs while maintaining its driver supply network. Technical Analysis From a technical standpoint, Uber’s stock price has displayed significant bullish momentum. The stock rose by 9.61% on Friday, signaling strong investor confidence. The daily price chart shows a clear gap up pattern, typically a bullish indicator signaling strong buying interest and demand for the stock. The Relative Strength Index (RSI) has climbed to 76.62, which places it in the overbought zone. While this could indicate that the stock may experience a brief pullback or cooling off, it is also a sign that momentum is currently in favor of the bulls. However, given the stock's recent strength and broader market optimism, a slight retracement could act as a consolidation before resuming its upward trajectory. Uber’s stock has also broken above several key moving averages (MAs), further underscoring the bullish case. In particular, the stock is trading well above its 50-day and 200-day moving averages, two important indicators for long-term price trends. When a stock maintains its position above these averages, it typically signals that investors are optimistic about the company’s long-term growth potential. Additionally, analysts expect Uber (NYSE: NYSE:UBER ) to climb toward a key resistance level at the $91 pivot, which represents a psychological and technical level that the stock could test after a period of consolidation or slight regression. The bullish thesis remains intact as long as the stock continues to trade above its key moving averages and fundamental growth factors, such as its AV partnerships, support future growth. Outlook: Uber’s Path to Continued Growth Despite Tesla’s ambitious plans, the details surrounding its robotaxi fleet remain vague, leaving Uber well-positioned to continue dominating the mobility market for the foreseeable future. As more AV developers seek partnerships rather than building standalone fleets, Uber will be the go-to platform for AV integration into public transportation systems. In conclusion, the failure of Tesla to provide actionable details about its robotaxi service has reinforced Uber’s role as the dominant player in the ride-hailing space, with strong potential to benefit from future AV integration.
NYSE:UBERLong
by DEXWireNews
Levels to manage risks while trading $UBER on the bullish side"We believe robotaxis could significantly expand Uber's mobility total address market, given the resulting increase in supply would drive lower-priced autonomous offerings over time that expand the use-cases for rideshare," the Jefferies note said Friday. "The long-term autonomous debate is far from resolved, but we don't think We, Robot showed us anything to believe the slope of autonomous adoption will be any steeper than we previously expected," Morgan Stanley analyst Brian Nowak wrote Friday.
NYSE:UBERLong
by KhanhC.Hoang
Uber Technologies Uber witnessed a strong rebound after forming a new higher low at 67.12$, violating the last peak 74.50 - 76.50$. and the confirmation of this breakout by remaining above 76.50$, will confirm the current uptrend, triggering further rises near 78.85$ - 81.23$ - 82.20$ - 84$ in the short-term. The stop-loss lies below 73.45$. the indicators are heading toward the positive side, which confirms the mentioned positive scenario. The information and publications are not intended to be or constitute any financial, investment, commercial, or other types of advice or recommendations provided.
NYSE:UBERLong
by Gehad_Abouelela
Tight Squeeze in Uber Uber Technologies has drifted sideways for most of the year, but some traders may think it’s getting ready to move. The first pattern on today’s chart is the previous all-time high of $64.05 from 2021. UBER bounced at this level in June and is trying to stabilize slightly above it this month. That may suggest that support has developed above old resistance. Second, the 50-day simple moving average (SMA) is near the 100-day SMA. Both are near the 200-day SMA. Bollinger Bandwidth has also narrowed. Could that neutrality morph into increased movement? Third, the ride-sharing company gapped higher after its last earnings report. It jumped again on Friday after expanding its partnership with Waymo. Those pops may reflect positive sentiment. Finally, the last rally pushed UBER above a short-term falling trendline. That potential breakout and the higher monthly low may also suggest buyers are in the driver’s seat. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NYSE:UBER
by TradeStation