UBERD trade ideas
Thoughts on UBERHello everyone,
Here are some thoughts on UBER (I am long at 46.13):
The very optimistic view is to bounce from the current position back into the channel. The MACD slightly supports this.
A less optimistic view is to bounce from ~ 44.7 (Fib level 23.6) back into the channel. We might see moderate support at ~ 44.5 – 45.15. EMA200 (45.38) is broken.
If we drop below the ~ 44.7 level, we might see ~ 41.3 – 42.1 (which matches the 38.2 Fib level).
(UBER) 1H - Bull Reciprocal AB=CDPrice printed an Entry Confirmation line(horizontal fat purple) and after a morning pump tested the line finding support near the lower keltner channel and near several potential support lines. It rallied hard the next bar; closing above the ECL. An hour later it is retesting the ECL and I went long with an average price of 45.31. Price is now near an intersection of a multi-pivot line and an upsloping action/reaction line. Note RSI is just below it's 38.2 reading(it's apparent over sold level in this 233 bar frame). Price can certainly dip lower to target2 of the Bear AB=CD(red pattern) where it will find the root number of a potential Bull .618 AB=CD @44.69 and a multi-pivot line just below that it will have to contend with.
If the market has fallen out of bed and we are in for a deep correction I will certainly be stopped out of this risky setup(note the lower highs and lower lows). My stop is at the HOP level to the potential .618 AB=CD. A more conservative approach to entering this long trade would be to watch for virtually immediate support here or at 44.69 and buy a confirmed breakout of the downtrend line; at which time one would presume a major low pivot to be in place(justifying gunning for higher targets as a function of trend).
DYDD
(UBER) 1H - Bull Reciprocal AB=CDI am waiting on this Bull Reciprocal AB=CD for an entry confirmation line to print. Once it has, a test and re-test of the line is the trigger to find a long entry. This type of vetting process provides more certainty about the presumed pivot at the cost of sometimes missing the entry. In contrast, the harmonic stalker's faith-based entry occurred below the PRZ when price interacted with the lower 0-4 reaction line and a local multi-pivot line. This type of entry often provides great location and superior risk/reward. I'm a Johnny come lately via scans so I missed that entry.
Uber's Profit Surge Amid Stock Slump - What's Next?Uber Technologies Inc, the prominent American ride-hailing company, has recently reported its first-ever operating profit, signifying a successful shift to profitability. The company posted pre-tax earnings of $326 million (£255 million), a significant improvement from the previous year's operating loss of $713 million (£558 million). The turnaround is primarily due to a 22% increase in booked trips, indicating a surge in demand.
Despite Uber's positive financial performance, the stock market responded unexpectedly with a 5.68% drop in Uber's stock price on the Q2 earnings release day. This event serves as a reminder of the unpredictable nature of financial markets, where stock prices don't necessarily align with a company's earnings due to various influencing factors such as market sentiment, economic indicators, and global events.
Despite the recent decline, Uber's stock price has reached a significant support level, previously last year's high. This level could potentially act as a foundation for future trends and if the price strongly rebounds from this level, a significant upward move might be forthcoming.
However, investors should remain cautious of the notable $50 resistance level just above the current price, which might hinder the upward trend. If the price surpasses this crucial mark, there is potential for a significant upward trend aiming for the all-time high of $64.05, a level not seen since February 2021.
Lyft and Uber's Contrasting Performance (UBER:NYSE)Introduction
In the competitive ride-hailing industry, Lyft and Uber are experiencing divergent trajectories. Despite Lyft experiencing consistent revenue growth, an inefficient expense structure has been undercutting those gains. Meanwhile, UBER has been focused on improving their profitability and expanding their market leadership of the ride-share economy with some unique and strategic initiatives. This analysis delves further into the contrasting performance of these two companies.
1. Uber's Market Opportunity and Leadership
Uber's advantage lies in its larger market opportunity, which allows it to reach more customers and operate in diverse regions. The company's formidable market leadership gives it a competitive edge over rivals, including Lyft, allowing Uber to expand its presence and consolidate its market position.
2. Capitalizing on the Sharing Economy Trend
Uber has effectively harnessed the growing popularity of the sharing economy. As consumers increasingly embrace ride-hailing as a convenient and cost-effective transportation option, Uber has reaped the benefits of this paradigm shift, driving its continuous growth.
3. Improving Profitability and Rider Loyalty
Uber's relentless focus on improving profitability has resulted in positive outcomes. The company's efforts to streamline operations and optimize costs have bolstered its financial health. Additionally, Uber's introduction of subscription membership and other innovative initiatives have strengthened rider loyalty, contributing to sustained growth.
4. Path for a Sustained Rally
A positive outlook for UBER is supported by strong fundamental results, even though their stock has almost doubled year to date. Investors have responded positively to Uber's performance and growth prospects, fueling optimism for the company's future trajectory.
Conclusion
Lyft and Uber's diverging performance in the ride-hailing industry reflect their respective strengths and challenges. While Lyft grapples with operational hurdles and cost structure, Uber thrives on robust growth and market leadership. Capitalizing on the sharing economy trend, improving profitability, and fostering rider loyalty have been pivotal in Uber's success. As Uber continues to seize its larger market opportunity, investors remain optimistic about the company's potential for sustained growth and value appreciation. However, it is crucial for investors to stay attuned to the evolving dynamics of the ride-hailing market and make informed decisions based on their investment objectives and risk tolerance.
This content is provided for general information purposes only and is not to be taken as investment advice nor as a recommendation for any security, investment strategy or investment account.
UBER Technologies Options Ahead of EarningsIf you haven`t sold UBER here:
or reentered here:
Then analyzing the options chain and the chart patterns of UBER Technologies prior to the earnings report this week,
I would consider purchasing the 50usd strike price Calls with
an expiration date of 2023-8-18,
for a premium of approximately $1.66.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Can $UBER > $90 before the election in 2024?Note from Daily Argus Market Mover on 07/18:
Uber operates networks for ride-sharing, carpooling, food delivery, etc. Its smartphone app enables consumers to contact drivers, arrange a meeting point, and get to a destination in a cash-free transaction. Uber has operations in more than 700 cities on six continents.
Since an IPO in the mid-$40s in 2019, UBER has been on quite a roller coaster ride. The stock eventually cratered to $14 during the pandemic. That was followed by a massive rally to $63 by February 2021. By June 2022, the shares were back to $20. While it took time to bottom, UBER got in gear early this year, rising to $38 by February before tracing out a bull flag back to the 21-day exponential. The stock soared in early May on better-than-expected results and has been crawlinghigher over the past couple of months.
Argus put a stop-loss just below chart and moving-average support at $41. We would take profits at $50, with larger long-term gains possible.
UBER Bullish Pennants for ContinuationUBER on the 15-minute chart this week has printed a small bullish pennant pattern
then continued into another larger print of the same pattern. The Price Volume
Trend Oscillator went red to green as the initiation of this trend over the past
two days. Trading volumes have pushed prices and are in the range of double the
moving average. The zero-lag MACD indicator shows a pattern of bullish
momentum in the mornings followed by fades at lunch and afternoons.
I believe that this 5-6% trend up has another 1-2 days to go before a profit-taking
session to close out the trading week.
UBER ShortEarning 5/2/2023 (Positive)
Open GAP and ran into Supply Zone, breakout and pullback
Short Sell 37.5
Stop 42.6 -- next supply zone
Target 30, 24
Risk management is much more important than a good entry point.
I am not a PRO trader.
In my trading plan, the Max Risk of each short term trade should be less than 1% of an account.
UBER - Rising Trend Channel [MID -TERM]🔹Strong development within a rising trend channel in the medium long term.
🔹Price surges after POSITIVE rectangle formation break through resistance 29.76.
🔹Support 37 in NEGATIVE reaction.
🔹Technically POSITIVE for the medium long term.
Chart Pattern;
🔹DT - Double Top | BEARISH | 🔴
🔹DB - Double Bottom | BULLISH | 🟢
🔹HNS - Head & Shoulder | BEARISH | 🔴
🔹REC - Rectangle | 🔵
🔹iHNS - inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
WavePoint ❤️
Analyzing Uber's Stock Performance and Future ProspectsUber Technologies Inc. (NYSE: UBER) has been grappling with challenges in maintaining a consistent stock price above the $45 mark. However, if Uber manages to break through this resistance level and sustain a position above $45, it sets the stage for a potential breakthrough towards the next target at $49. This stock analysis explores the implications of Uber's struggle and the significance of reaching $49.
Struggles at $45: Uber's stock price has encountered resistance around the $45 level, where selling pressure has impeded sustained upward movement. Identifying the factors contributing to this struggle provides valuable insights into Uber's market dynamics.
Market Dynamics Influencing Uber's Stock:
a. Competitive Landscape: Uber operates in a highly competitive market, facing rivals in both the traditional taxi industry and the ride-hailing sector. Intense competition can impact market share, profitability, and investor sentiment, potentially influencing the stock's performance.
b. Financial Performance: Uber's financial health, revenue growth, and profitability are critical factors affecting the stock price. Factors such as rider and driver engagement, expansion into new markets, and the success of diversification efforts can influence investor confidence.
c. Market Sentiment: Investor sentiment plays a significant role in determining stock price movements. Positive news, industry developments, and market conditions can create favorable sentiment, potentially driving the stock price higher.
Breaking Through $45: If Uber successfully breaks through the $45 resistance level, it signifies a positive shift in market sentiment and investor confidence. Breaking barriers can attract new investors, fueling further upward momentum in the stock price.
The Next Target: Reaching $49: The $49 mark becomes the next target for Uber if it surpasses $45. Achieving this milestone indicates a significant breakthrough, further solidifying investor confidence and signaling the potential for continued growth and positive market sentiment.
Key Considerations for Investors:
a. Fundamental Analysis: Assessing Uber's financials, growth strategies, and competitive positioning provides a foundation for understanding the company's potential for reaching and sustaining the $49 target.
b. Market Conditions: Considering broader market conditions, industry trends, and macroeconomic factors is essential. These factors can influence investor sentiment and impact Uber's stock price, affecting its ability to reach and surpass the next target.
c. Risk Management: Evaluating risk factors associated with Uber's operations, regulatory environment, and geopolitical events is crucial. Understanding and managing potential risks is integral to making informed investment decisions.
In conclusion, Uber's challenge in staying above $45 highlights the obstacles it faces in a competitive market. Breaking through this resistance level and targeting $49 signifies a significant breakthrough and can enhance investor confidence. However, comprehensive analysis, including fundamental evaluation and market considerations, is vital to understand the underlying dynamics and make informed decisions regarding Uber's stock.
$UBER - Scaling Down as a Risk and Emotional Managing MechanismJust updating this idea :)
One good idea to manage emotions and hedge against the risk of losing back our profits to the market is to scale down once a logically placed target is hit.
Pursuant to our volume profile analysis, although this market might as well keep on climbing, some bearish pressure is likely to step in at this level (is sufficient for a reversal, no one knows and it depends on the state of the general market as well).
For this reason, at this moment. the odds are not slightly imbalanced and not any longer at full force on our side, the bulls.
Take partial profits , scale down and one of 2 things happen:
1. The market moves against you and you remain relatively happy since you have already locked in some profits.
2. The market keeps on climbing and you remain relatively happy because you are still holding a long position.
REMEMBER: Drawing lines on a chart means nothing if you do not manage risk. Nothing.
Cheers,
Tenacious Tribe - Quantified Trading Strategies
