Uber Quietly OutperformsStocks have been tumbling for more than a month, but Uber Technologies has quietly outperformed.
The first pattern on today’s chart is the series of higher lows since mid-December. They contrast sharply with the S&P 500, which has mostly experienced lower highs.
Second, the 50-day simple moving average (SMA) recently had a “golden cross” above the 200-day SMA. That may suggest a longer-term uptrend is trying to develop.
Third, relative strength in the lower study shows how the ride-sharing company has outperformed the broader market over the last three months.
Finally, UBER made an all-time high in October before pulling back. It then stabilized above its previous record high from 2021. That price action may be consistent with a longer-term breakout.
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