UBER trade ideas
The Future for UBERUBER is approaching pivotal levels that will determine whether they can sustain moves that will not only break previous ATH's but fuel the momentum to new ATH's. On the opposite side of the same coin, those same levels may push UBER back 6 months growth.
Right now, there is plenty of discussions and movements from companies towards driverless ridesharing. We already see places like San Francisco and Phoenix where driverless cars are becoming common sights. With the push for all electric cars, self driving is scheduled to become all too familiar. How many people will try to supplement income by purchasing a self driving car that can work while they do? Will UBER phase out drivers and move to autonomous transportation? What affects will driverless ridesharing have on the transportation markets?
Through my technical analysis I see questionable months ahead for UBER. And through my fundamental analysis I see massive upside potential.
What do you see for the future of ridesharing? Comment below with your thoughts/ predictions.
Uber- Technical AnalysisDisclaimer: I don’t own shares of UBER.
The below analysis is not a trading or investment recommendation & is only for learning purpose.
• Price is under the short term 20 period & long term 200 period moving averages.
• Price & RSI show an unconfirmed bullish divergence. Confirmation of this divergence is obtained through price closing above the
trendline & sustaining itself above the trend line.
• Immediate resistance points seems to be the 20MA, the intersection of price & the trendline shown in the chart, the most recent
pivot at $26.69 & the 200MA
• Immediate support is around $20.16 which is the most recent low.
• Price closing below $20.16 could trigger another round of downward movement.
• Volume increase has been seen around the recent lows made by price but the stock needs to see more of such high bouts of volume
to end the downward path & sustain it’s upward journey.
• An important development to look out for would be for the recurrence of hidden bearish divergence.
• The most recent hidden bearish divergence has been shown using dotted arrows on price & RSI.
• Hidden bearish divergence occurs when price continues to make new lower highs in a downtrend but RSI at the corresponding
price levels makes a higher high.
• Hidden bearish divergence is usually a trend continuation signal. Since the existing trend in this chart is downwards, hidden
bearish divergence tells us that the downward move hasn’t probably come to an end yet.
• Please exercise caution & always respect support & resistances for establishing stop losses while trading.
Good luck, make money!
Live Challenging Market Analysis Buy UBER STOCK @ 41.93Live Challenging Market Analysis Buy UBER STOCK @ 41.93
Target @ 65.00
Entry 2 @ 23.66
Target Buy 1 & 2 @ 41.93
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