marketfellow

Actual Trade: UPWK +103% Profits

NASDAQ:UPWK   Upwork Inc.
  • Noticing outstanding performance from similar competitor FVRR for its online tech services business model
    May breaking out from 10 to 12 was important hint for its upside potential with outstanding volume
    Two cascades rectangle bases during May-June and June - September were another evidence that accumulation patterns were clearly visible.
    Resistance 17 is established so it is a waiting time for its triggering event
    09/29 was the day crossing over 17 bar and begins its upside journey
    Although there were a minor pullback to 18 but it never went below 17 since 09/29
    Power gap-up and straight up actions does not allow any late comers into the game after 09/29
    It finished with +103% profits in about 6 weeks for UPWK
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