UBER Breaks Out of Consolidation
- Uber Shares break out from price consolidation after Eats Revenue increases buffers its $3 Billion Quarterly Loss
- Stay at home orders gave an unprecedented 53% year-on-year revenue growth for the Eats Business.
- Technically price has broken out of its down trending Pitchfork with a strong burst on the Connors RSI. Longer term momentum has been somewhat flat and needs to pick up before prices can reach our first target.
- If prices remain in the linear regression channel we could see our first target of $39 hit by July - expecting some resistance along the way especially at $34.
- Investors are betting on growth to continue in Eats and lockdown restrictions easing the drag of the rest of the business.
- Stay at home orders gave an unprecedented 53% year-on-year revenue growth for the Eats Business.
- Technically price has broken out of its down trending Pitchfork with a strong burst on the Connors RSI. Longer term momentum has been somewhat flat and needs to pick up before prices can reach our first target.
- If prices remain in the linear regression channel we could see our first target of $39 hit by July - expecting some resistance along the way especially at $34.
- Investors are betting on growth to continue in Eats and lockdown restrictions easing the drag of the rest of the business.
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