June 6, 2019

UBER Bullish?

I guess that is the question to ask yourself on the company. Is UBER bullish at the moment? I believe it to be. In fact, I think UBER can be ready for a nice upside move. One of the key factors was the stock making new all-time highs yesterday. That doesn’t carry as much weight as say Apple making new all-time highs, but I certainly can’t ignore the fact that this took place. While some IPO stocks can just launch up and never turn back (I am talking about you BYND), most IPO’s will initially pop then drop fairly quickly after the IPO date. Then we see the real move of the stock and potential uptrend/downtrend that could take place. I am speculating UBER to start a longer-term uptrend here. I also think it can bring LYFT along with it. While there has been much hoopla about the massive debt both of these companies operate under, that hasn’t stopped companies like TSLA or any of the high flying cloud companies that are making massive moves every week. It’s hard to try and put a cap on the valuation of newer companies that have changed the landscape of their industry. Think GOOGL, MSFT, AMZN, AAPL, NFLX, FB in this regard. UBER is one of those companies. While I am not praising UBER whatsoever, I do think there is great value right now. I do think a potential run past $50 will be coming soon. IF the macro markets rally strong, I expect this stock to move right along with it. Signs are pointing up in UBER. I hope you all are paying attention to the name. If not, consider this your alert.

Follow me on Twitter: @DiscipleOfTrend

about the author:

Charles Moon

Charles Moon is a technical "whiz kid" whose experience lies in scalp/swing trading. A patient educator, Charles excels at coaching/mentoring and can make complex concepts simple. Prior to joining the ranks of Prosper Trading Academy, Charles was a proprietary equities trader with Great Point Capital LLC. Coming from a retail trading background, his experience can help those with no experience trading to seasoned veterans.

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