UBER: A top signal under a resistance? Post-Earnings analysis.
• UBER is doing some interesting technical movements, even with the increased volatility after earnings;
• UBER went up just to hit the previous resistance at $30.24, a previous support from Oct 06;
• While I’m writing this, UBER is trying to do a Shooting Star candlestick pattern, a top sign;
• If UBER confirms a top sign, just under a resistance area, then we might expect a correction;
• Therefore, if UBER corrects to its 21 ema around $27 - $28, it won’t be a huge surprise;
• In order to avoid this, UBER has to react as soon as possible and break the $30.24;
• If UBER breaks its resistance, the next target would be at $33.38 (green line).
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• UBER went up just to hit the previous resistance at $30.24, a previous support from Oct 06;
• While I’m writing this, UBER is trying to do a Shooting Star candlestick pattern, a top sign;
• If UBER confirms a top sign, just under a resistance area, then we might expect a correction;
• Therefore, if UBER corrects to its 21 ema around $27 - $28, it won’t be a huge surprise;
• In order to avoid this, UBER has to react as soon as possible and break the $30.24;
• If UBER breaks its resistance, the next target would be at $33.38 (green line).
Remember to follow me to keep in touch with my analyses!
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