$UBER (-0,67 %) 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 $UBER (-0,67 %) I was able to close my last trade on April 25 at around 76$. 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 (-0,67 %) also on the watchlist or was able to use the good entries of the last few weeks for a B&H position?
