BUY UPWK LONGBought a large quantity of shares today will call options. I believe in great gains here.
UPWK trade ideas
UPWK Entering Phase E Markup On Shorter TimeframeWyckoff Accumulation Schematic #1 almost complete on a short term timeframe.
Longer term..
Risk is 10%, reward is 120-200%.
Stop loss and invalidation are clearly outlined (at 10% below current price.)
Stock has formed a technical double bottom (textbook) over the last 4 months, and completed this formation with strong support yesterday.
Stock has inverse correlation with most equities (think covid darlings that spiked in times of turmoil).
Stock is strongly correlated with unemployment rates. Rising interest rates tighten credit conditions , revenues should slow.. increasing unemployment. The whole point of all of this is to only slow interest rate hikes when the market shows it's responding to high interest rates. This is evident through unemployment statistics, and inflation growth. We look to inflation to suggest that interest rate hikes are having an impact, we look to unemployment to confirm it. Higher unemployment is coming, which means objective upward pressure for this stock.
Company is buying back debt from convertible notes it has issued, reducing it's overall debt obligation by around 30% (press release yesterday).
A reputable firm analyzed the stock the other day, and placed a 100% price target based on competition and all known pressures on the stock being "well discounted, and well priced in".
Company is increasing their prices as of today by 50% on their most expensive products, and dropping their prices 50% on their cheapest products.
Company has an analyst consensus (average of all) of 62% increase in price from current price.
Stock is down 83% since it's last high, 512 days ago.
Company has surprised revenue expectations for the last 8 consecutive quarters.
Stock has created bullish divergence on the RSI (relative strength index) on long term timeframes , indicating that buyers stepped in to support price in this range 3-4 months ago.
Company is reaching the end of a technical pennant by May 11 2023, and will have a substantial increase in volatility before that time. The pennant is building pressure, consolidating price within a range and coiling the shorter term moving averages, building momentum for a technical breakout.
Upwork isn't going anywhere. Buy. DYOR.
UPWK - Head and Shoulders InverseOn the chart, we can see an inverted head and shoulder, which is ready to breakout.
We expect it to go to the upside, whereas we will take an entry at the breakout of the neckline.
This will give us a ROI of 18%.
More details are shown on the chart
$UPWK W/ Earnings this week and clean cypher set up I will be watching $UPWK, hoping to catch this off 786 trigger level w candle action to minimize the risk (tighten stop loss)
Watch price action off 618 level as the spinning top doji close can bring in buyers.
Tp's are shown, Tp1 stop is to entry, tp 4 is 16.50$, not shown in chart.
I will post entry if I get a good one w lower risk, 3-4x risk to reward is not worth the time, at all for me :)
UPWK More Downside in Falling WedgeUpwork is in a long-term (for the stock) falling wedge (on log scale) since its triple top. It's shown relative weakness vs the market and still has more room for the downside for much of 2023.
Upwork Inverse H&SUPWORK has created an inverse head and shoulders pattern. Suggesting an primary price target of $35 (100%). Once the H&S has finished, perhaps a retracement of a golden pocket before next move.
$UPWK ~ Beautiful wave structure...As shown, beautiful EW structure. Still has a little more correcting to do, but should provide an amazing opportunity soon. Will be tracking very closely and may take a position.
Upwork Showing a weekly small double bottom here. Daily buy volume came in on that area. We need to see a break and hold above 19.10 as if this falling wedge wants to break to the upside could taget 28$. Of course in this bearish market upside is hard to imagine Howver that volume coming in is surprising would at least have to stoploss below the second low of 16.96
Cup & handle Pattern on $UpWorkPotential Cup & Handle Pattern forming
Tell me what you think
not financial advise
Put playUPWK, like all its counterpart. it is defalting. looking for gap fill under. It will be a buy after the gap fil.
could bounce here, but im nuetral at the moment upwk approaching its last line off support. If we bounce here and break 39.71 my price targets are 50.39-58.98
below 30 theres not much support and we can hit 18.73
staying neutral until we see a clear break to either direction.
like and follow for more! 💘
Long $UPWK a bit of technical, a bit of fundamental analysis
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Khan's Swing-Trade Idea KW 47 - $UPWKIndustrials lagging Sector
Harsh drop after good earnings. Wait for an additional positive signal/volume.
UPWKUPWK at a potential buying point. Found support at a long term trendline + 1 year out/post gap up (also where significant price action begins) Anchored VWAP. New pivot low would also align with the previous distance between pivot lows. This also could be the end of an ABC corrective wave, setting up a potential new move to the upside. Bullish RSI divergence is also a supporting factor. Not necessarily expecting a sudden move to the upside, but UPWK is a long term thesis for me so I like the low risk entry. Today was an inside day (contracting volatility) and it gave us a green hammer showing us some momentum to the upside. Looking for 3 inside up candle formation for confirmation of long entry.
UPWKUpdate on UPWK trade plan. Trimmed position to lock in some profits, still holding shares long. If we see a nice pullback, I will consider adding shares.
UPWK earnings ideaExpecting a pre earnings pullback, then run after earnings. UPWK dropped despite a double beat upon Q1 and Q2 earnings report due to guidance that hyper seasonality factors would decrease screen time. However increasing jobless claims and a study of travel data leads me to believe that this was purely a Q2 concern, where there was a sharp increase in travel numbers and less jobless claims and a small drop in revenue from the previous quarter. One key thing to note is that UPWK's user base grew significantly due to COVID-19 as revenue grew significantly over the course as the pandemic and as we saw travel numbers taper off. However an increase in travel numbers did not cause a proportionate drop-off in revenue numbers, possibly indicating that the gig economy is here to stay. These factors lead me to believe earnings will have a positive reaction.
UPWKUPWK thesis play, 63$ PT based around fundamental analysis. TA aligns with price target. Entry points marked by green arrows, potential areas to size out marked by red arrows.
UPWKAlignment of technical and fundamentals. Q2 guidance is giving us a big discount. 63$ PT based around fundamental analysis
New Pyramid on UPWKI like Upwork long term (use their service as a consumer too), here is my plan to pyramid into shares. I will buy in 4 tranches and then have a pre-defined level where I will buy protective puts. Max loss is about $6/share average after all 4 levels are filled -- before it hits the insurance level.
