lots of support coming into play herebounced off previous resistance which is now support, rsi dip entry and trend line support. target 100 in the short term and higher if 52w highs break!
UPST trade ideas
UPSTMy entry was a bit premature. But I like the sector its in and their business model.
Just an idea.
$UPST - strongMegaphone pattern.
It's an IPO so it can reverse at anytime. Today it did not disappoint
Rising wedgeUpstart got nice price upgrade for 57$ with buy ratings from some analysts. which help push it to 63. tomorrows channel top will be 65.76 (Greenline) , if it can't break thru expect a break down which typically is what happens in rising wedge patterns.. Breakdown targets are Redlines
How do you evaluate the upside potential on new IPO's UPSTSo Upstart looks like a really exciting company.
Ex OG google brain started up this AI lending system that beats out traditional models by a lot.
I like the team, I like the idea, and it's performing well.
with already close to 200% up from it's IPO price though, I'm weary to jump in.
Market cap is at 4.5B which is a little high for me cuz I usually target small cap stocks.
The lending industry is multi trillion dollars though so technically this thing could shoot to the moon.
Would love some advise on how to approach this trade.
