UBER Technologies, Inc to crash 35%

30 Nov 2024

And that might just be the beginning of the end for UBER.

** A forecast for the months ahead **

On the above 6 day chart price action has rallied an astonishing 300% in the past 24 months. A number of reasons now exist for a bearish outlook. They include.

1) “Insider Has Just Sold Shares In Uber Technologies”

“Chief Marketing Officer and Senior Vice President of Communications & Public Policy recently netted about US2.0m selling shares at an average price of US$72.90.”

simplywall.st/stocks/us/transportation/nyse-uber/uber-technologies/news/this-insider-has-just-sold-shares-in-uber-technologies

Don’t ignore insider selling.


2) Price action and RSI support breakouts.

3) Regular bearish divergence.

4) The Put/Call ratio. Calls outnumber Puts 3 to 1.

Is it possible price action continue up? Sure.
Is it probable? No.

Ww

5 Dis 2024

Dagangan aktif

Confirmed broken market structure.
Long Puts, you're ITM. Enjoy!

5 Dis 2024

Nota

A message on the broken market structure. It is confirmed. Like Intel and SMCI ideas before them.
Because of that UBER price action will not return above structure for a period of 18 months to 2 years.

6 Dis 2024

Nota

** Correction update: now from 35% to 50-60% region **

11 Dis 2024

Nota

-18% correction so far. Some folks are buy the dip, but it just keeps dipping.

$56 first support test on H&S extension

7 Jan

Nota

The forecast has received a number of messages from twitter, the comments below, and the inbox. Everyone is a bull and highly critical of the idea.

Am I wrong?

Of course it is possible. Anything is, as a contrarian I must entertain both bullish and bearish outlooks.

On reflection and carefully reading the criticisms I’ve increased the forecast from -35% to a -60% correction.

On the 2 week chart below:

1) Broken market structure.

2) Two 2 x weekly candles now close under the 2-week 21 SMA, very bearish.

3) Price action enters the 5 day Gaussian channel, confirming a year long downtrend ahead.

Sorry bulls, you’re all out of luck.


2 week chart

14 Jan

Nota

A bearish crossover on the bull/bear market band has now printed.
There are no certainties only probabilities, however the months ahead for this business is very probable in the red.

8 day bearish crossover.

4 Feb

Nota

The double top is followed by a confirmation of broken market structure.
Use swing highs from retail traders as your exit liquidity.