UPWK trade ideas
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
use trendline as stop lossjust like nio this is breaking out of its own trend channel. extremely bullish with no resistance, just how i like em. if you enter here id put stop around 24. or look for a test of one the top trendline for a perfect entry with extremely tight stop. gl ! <3
UPWK - $25 by Valentine's Day?Disclaimer: I'm learning Elliott Wave and starting to test my analysis. This is for educational purposes only.
Definitely some tricky counts on this chart. Especially in Primary wave 3. Nevertheless, I think we've entered wave 5. And, if it holds to the tendency of wave 5 to be roughly equal to wave 1, we could see $25 somewhere around Feb 14.
But, then again, I'm new at this.
So, comments and feedback are welcome.
Upwork upside potentialWe have seen 2 false outbreaks at NASDAQ:UPWK , but now the ADX is rising, +DI is positive, 20 day average is moving over a support, if it moves and stays (eod) over the resistance around 16,15 $ there is a lot of bullish upside potential. NASDAQ:UPWK has shown relative strength compared to the last days sell-off in TVC:NDX - in my opinion this is a nice stock setup, i will observe it
UPWORK PlanHey traders, UPWORK is in a bullish momentum with a large buying volume. It is located on a strong bullish support trend, the TIMEFRAME 1 Min an attempt to continue the sellers in progress. Which is heading towards its last precedent lower and still leaving in its rise. Strong possibility of breaking out the consolidation zone to arrive in a new zone.
And go to the next high if the buyers have an appetite, we can get to the top of the consolidation zone, which is strong support and the next high.
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Gig Economy here to stay! Buy UPWKBull Case:
1. Gig economy not ending anytime soon
2. Beat estimates on the top and bottom lines. Expects revenue in the range of $89 million to $91 million. That was ahead of analyst estimates for $85 million, according to FactSet. Up Guidance.
3. Clear consolidation around $12 and $16, forming a base on a base pattern.
4. Price holding above the 50ma.
Bear Case:
1. While UPWK beat estimates, it still lost money in Q2.
Trade Setup:
buy $15
stop $13.34 (2xATR)
target $18 $20
Gig economy winner. $FVRR or $UPWK?FA,
- Structural headwinds through gig economy, freelancing and 'escape the rat race' theme
- 3Y revenue growth 22%
- Improving gross margins. 70%
- Recent insider purchases
- Like shopify, but for talent. Online talent marketplace.
-Value? Market cap half of Fiverr with revenue twice as much.
TA,
- Major trend reversal. Short term moving averages crossing Long term MA
- Trendline support
- 120MA support 4H
- Higher highs and lows
Concerns,
- Less than expected revenue growth during lockdown. YOY growth 19% at $87.5M
Main competitor Fiverr reported YoY growth of 82% at 47.1m. Growth is key.
- Fiverr reporter a net loss of only -$0.1M while UPWK reported a loss of -$10M.
-Freelancers prefer Fiverr over Upwork.
- Fiverr better glassdoor ratings (4.3 Vs. 3.8)
- Higher volume on red days
Seems more like a technical trade considering the above points or a value play. Fiverr is still the better company fundamentally. Until Upwork can show above significant growth rates, the stock would not gain much momentum. 20% growth for a growth stock with people looking for jobs online is not enough in my opinion.
UPWK BUY OR LONG , TARGET UP TO $21 The UPWK "Cup and Handle " pattern has confirmed at $ 15.5 and a small resistance just above has confirmed a pass, now it's a good time to buy.
The price is above the MA200, which shows that the uptrend has stabilized.
UPWK buy : $16
UPWK target : 20.5 +-1
Stop loss : $13.8
Wish you good deals!
$UPWK Director Buys a Sign of Faith in UpWorkInside Buy details
UPWK GRETSCH GREGORY C. Director Aug 11 Buy 14.03 100,000 1,402,990 716,795 Aug 11 09:28 PM
UPWK GRETSCH GREGORY C. Director Aug 10 Buy 14.95 221,900 3,317,494 959,272 Aug 11 09:28 PM
UPWK GRETSCH GREGORY C. Director Aug 07 Buy 14.79 125,944 1,862,618 616,795 Aug 11 09:28 PM
UPWK GRETSCH GREGORY C. Director Aug 07 Buy 14.76 100,000 1,476,130 737,372 Aug 11 09:28 PM
UPWORKUpwork trading into an ascending wedge into close / earnings. Potential to explode or dump. Not staying flat.
UPWK: Starting to Retrace: Next Target $18+Upwork looks like it is about to enter a continuation of previous patterns at the price entry, and I expect the positive wedge to have a current target of $18. This also has long hold profit turnover potential afterwards or you could shorten at the wave and buy the dip. I feel like the patterns are there, and the AO is just repeating itself. Also ADR, and the pivot is quite obvious. That being said, everything I am saying is on an opinion based basis. Do your own due diligence and invest at your own risk.
