Technical analysis
Prezzo | $ 31.50 | 52 weeks range | $ 28.28 - $ 61.50 |
Beta | 1.27 | Volume/ average | 33.7m/ 27.7m |
Sector | Technology | Dividend | N/A |
Uber Technologies, Inc. is an American mobility service provider.
Price
Analyzing the current price at $ 31.50 we can see that the stock is now on a wide range that characterized the fluctuations between September 2019 and October 2020. Relevance of this area is also confirmed by the Volume Profile, which sees the maximum point concentration (POC) at $ 34.00.
Consequently, looking at previous fluctuations we can hypothesize a short-term lateralization that could lead the price to consolidate within this range and gradually exit the bearish channel in place since February 2021: confirmation of this hypothesis will only be confirmed when the price consolidates between $ 38. - 41.00.
Indicators
Looking at the MACD and RSI indicators: both show a positive divergence with the price fluctuation. The strong downward extension coupled with the divergence with the price makes us think of a possible uptrend change.
On the weekly chart, we see a marked bearish trendline on the RSI: its exceeding can then be read as a possible change in trend.
Moving averages
Given the recent listing, for UBER we believe that the best moving average to use for medium to long term decisions is the 50 day one.
In particular, we believe that its overcoming could in fact coincide with a change in trend and support the thesis of $ 38-41.00 as a possible entry range.
Conclusions
At the current price, we believe that UBER represents an excellent stock to start monitoring for medium to long-term positions.
Without a shadow of a doubt, the stock is in a well-defined bearish trend but the concomitance with an important price range now makes it very interesting for possible reversals.
Our medium / long-term view is that UBER can soon break the bearish trendline and reverse to the upside: this confirmation will only be given to the consolidation between $ 38-41.00, given the current situation.
In the event that the stock were to continue its decline, we will evaluate possible entry ranges for subsequent breaks in the current trendline.
Entry range $ 38 - $ 41.00
Target 1 $ 50.00
Target 2 $ 64.00
Target 3 $ 75.00
Stop loss $ 25.00
Graphs
OTB Global Investments
11 March 2022
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