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Upwork Inc.

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UPWK trade ideas

UPWORK is a Great SHORT OpportunityNASDAQ:UPWK UPWORK was a major benefactor from the lockdowns earlier in the year, beating their most recent earnings by +59%. Although I do like the business structure of UPWORK and thing long-term this company will scale immensely, I also think that this most recent run was driven by the euphoric earnings beat. From a technical standpoint, the 200 Day SMA is all the way down at $15.50 and has gone untested for quite sometime, meaning a mean reversion may be due. We also broke out above that red rising trend line and never retested it to become proper support. My downside target is $22.50 which would put us right at the retest of the rising red trend trend line (almost like its really important). Although my downside target is $22.50, the risk of $15.50 isn't too farfetched to consider a true possibility. Good luck and be safe. - PennyBag
NASDAQ:UPWKShort
by PennyBagsCapital
UPWK - December 27, 2020UPWK - operates an online talent marketplace that enables businesses to work with various freelancers to serve their needs. They are a much cheaper option than FVRR on a forward EV/Revenue basis with a 10.79x multiple, compared against FVRRs 29.42x multiple. Upwork reported Q3 revenues of $96.95M, which beat analyst consensus by $6.3M. Outlook for Q4 was raised to $96-98M in revenue. Upwork has been a winner from COVID as more businesses look to streamline costs through virtual work. This has increased the potential for companies such as FVRR and UPWK to leverage the online adoption and work from home benefits. UPWK is a great long term dip buy in the $36-32 range.
NASDAQ:UPWKLong
by AptitudeFinancialAdvisory
$UPWK Swing Trade IdeaUPWK broke out strong to the upside. Looking at the volume profile, POC in the long-term and short-term are lower than current prices. Today we saw a bounce off the daily 20ema line (yellow). I'll be looking for weakness and for price to break under the daily 20ema before i enter short. If prices break down, we could easily see a gap down to $28 level, as there is a huge volume gap around $28-$30. Below that we could revisit $21 if $25/$26 level can't hold, notice the huge volume gap from $21-$26.
NASDAQ:UPWKShort
by s_m_s
Actual Trade: UPWK +103% Profits Noticing outstanding performance from similar competitor FVRR for its online tech services business model May breaking out from 10 to 12 was important hint for its upside potential with outstanding volume Two cascades rectangle bases during May-June and June - September were another evidence that accumulation patterns were clearly visible. Resistance 17 is established so it is a waiting time for its triggering event 09/29 was the day crossing over 17 bar and begins its upside journey Although there were a minor pullback to 18 but it never went below 17 since 09/29 Power gap-up and straight up actions does not allow any late comers into the game after 09/29 It finished with +103% profits in about 6 weeks for UPWK
NASDAQ:UPWK
by marketfellow