UBERUBER has recently exhibited a classic Pole and Flag formation on its price chart—typically a bullish continuation pattern that indicates a strong upward trend after a brief consolidation. The "pole" reflects the steep and rapid price rise, while the "flag" represents the short-term consolidation or retracement that follows.
A breakout above the flag’s resistance has been observed, signaling renewed bullish momentum. This breakout suggests that the stock could be entering the next leg of its upward trajectory.
A retracement toward the breakout level could offer a compelling buying opportunity, especially for medium to long-term investors. A stop-loss around $69 is advisable to manage downside risk, as this level marks a key support zone.
If the breakout sustains, the stock has the potential for significant upside over the next 2–3 years, supported by both technical strength and UBER's improving fundamentals and business growth.
Summary :
Pattern Identified: Pole and Flag
Breakout Status: Confirmed
Buy Zone: On retracement near breakout level
Stop Loss: $69
Outlook: Bullish; strong follow-through expected over the next 2–3 years
