Our stock screener has flagged UBER TECHNOLOGIES INC (NYSE:UBER) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:UBER for potential movement.
In-Depth Technical Analysis of NYSE:UBER
ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.
We assign a technical rating of 10 out of 10 to UBER. Both in the recent history as in the last year, UBER has proven to be a steady performer, scoring decent points in every aspect analyzed.
- Both the short term and long term trends are positive. This is a very positive sign.
- When comparing the yearly performance of all stocks, we notice that UBER is one of the better performing stocks in the market, outperforming 97% of all stocks. On top of that, UBER also shows a nice and consistent pattern of rising prices.
- UBER is part of the Ground Transportation industry. There are 38 other stocks in this industry. UBER outperforms 97% of them.
- UBER is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- In the last month UBER has a been trading in the 55.53 - 63.53 range, which is quite wide. It is currently trading near the high of this range.
For an up to date full technical analysis you can check the technical report of UBER
Why is NYSE:UBER a setup?
Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:UBER is 8:
UBER has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 63.29. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 62.79, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for UBER in the last couple of days, which is a good sign.
Trading setups like NYSE:UBER
One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.
This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.
More breakout setups can be found in our Breakout screener.
Keep in mind
This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.