4D·

Update - Uber again in an interesting area 👆

$UBER (-0,79 %) As already described and feared 3 days ago "...after such a long sideways phase it needs a "good" momentum to break out of the range sustainably". The earnings were not enough....

From a trader's point of view, it was the right decision not to enter yet. The question now is whether this resistance can attract enough new buyers to become future support 🧐

The next few trading days will show. Patience is required - if the current area does not hold, it may well run back to the anchored VWAP (blue line) - area around USD 71.

Currently, the average volume of the weekly session is still slightly above the current price level of 84$ (green arrow) - the bulls have not given up yet 😁

Detailed view 1h chart NYSE

1T Chart NYSE

I'll stay on the sidelines - let's see if I set a stop-buy a little above the ATH for next week?

Edit May 12: the ATH was broken today and I got in with a small position. It's good that there was no sell-off at the close of trading - tightly hedged, let's see what the week brings 😉

#trading

TomTurboInvest

@TomTurboInvest

1Semana·

Uber is currently in an interesting area again👆

$UBER (-0,79 %) has been in a stable sideways trend since January 2024. It was a pleasure for swing traders 😁But with the corresponding earnings on Wednesday, a new rally could start 📈 This is also interesting for buy & hold investors!

My last $UBER (-0,79 %) I was able to close my last trade on April 25 at around 76$. Uber has been in a strong uptrend since April 7 and is approaching the ATH. As long as the breakout above the ATH is not confirmed, I prefer to keep my legs still as a swing trader. After such a long sideways phase, a "good" momentum is needed to break out sustainably. I don't want to fall back into the old range with an open position. I would rather miss out on a few $ on the way up, but instead enter a confirmed trend above ATH.

In the chart you can see the sideways phase since January 2024 with anchored VWAP (anchored volume-weighted average price) - shown with standard deviation 2 - it was a nice phase with often very large ADRs (Average Daily Ranges - the daily trading range between min and max prices). These high ADRs benefit short-term oriented traders and enable nice returns in a short period of time.

Who has $UBER (-0,79 %) also on the watchlist or was able to use the good entries of the last few weeks for a B&H position?

4 Comentarios

Seventrader@7Trader

Hey Tom, I would be interested in your opinion on $MRK, because in my opinion the price has reached an exciting zone. In the monthly chart at the EMA200 plus the area of the 50 Fibonacci retracement.
I am strongly considering buying. What do you think?
Thank you and have a nice weekend 🍻

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TomTurboInvest@TomTurboInvest

@7Trader I took a quick look at it 😉
From a trader's point of view, I would wait and see, as there is still no clear picture for me. I took a look at the weekly chart on the NYSE. It's stupid that you still can't attach a picture to comments...

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Tenbagger2024@Tenbagger2024

Thank you.
That is your assessment as a trader.

What would be your assessment of Uber for a long-term investment?

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TomTurboInvest@TomTurboInvest

@Tenbagger2024 In the long term, I think Uber has a smart business model, and if it goes in the direction of driverless cabs or whatever kind of transportation, then the driver will be a major cost factor.

There are already some good partnerships, i.e. there is nothing to be said against it for B&H.
But that's just my personal assessment.

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