By Mill Chart
Last update: Jan 2, 2024
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.
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.
Taking everything into account, UBER scores 10 out of 10 in our technical rating. 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.
Check the latest full technical report of UBER for a complete technical analysis.
Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NYSE:UBER currently holds a 8 as its setup rating, suggesting a particular level of consolidation in the stock.
UBER has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 61.56, 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.
For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.
Of course, there are many ways to trade or not trade NYSE:UBER and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.
Every day, new breakout setups can be found on ChartMill in our Breakout screener.
This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.
UBER TECHNOLOGIES INC
NYSE:UBER (5/9/2024, 7:23:48 PM)
After market: 67.85 -0.08 (-0.12%)67.93
+1.53 (+2.3%)
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