UPST had a strong bullish rally from May 1 to July 31 with the stock price rising from $13 to $74 (marked by the green and red arrows).
However, economic conditions are hurting the lending market and UPST reported lower forecasts for the current quarter. This has led to a strong selloff at $74 that has dropped UPST down below $30.
I think that this dip is worth monitoring to profit from UPST's next rally. I'm keeping an eye on the two yellow trendlines as key support levels for a potential bounce. UPST has dropped below the $29.19 support level already and I have my eyes on the lower yellow support level at $24.10 for a bounce somewhere between these two yellow trendlines. I'm monitoring the price action to look for a sign of reversal here, and I will post an update when UPST presents a buy opportunity.
When UPST does have a bounce I would keep an eye on the blue trend line as a short-term price target at $38.37.
However, economic conditions are hurting the lending market and UPST reported lower forecasts for the current quarter. This has led to a strong selloff at $74 that has dropped UPST down below $30.
I think that this dip is worth monitoring to profit from UPST's next rally. I'm keeping an eye on the two yellow trendlines as key support levels for a potential bounce. UPST has dropped below the $29.19 support level already and I have my eyes on the lower yellow support level at $24.10 for a bounce somewhere between these two yellow trendlines. I'm monitoring the price action to look for a sign of reversal here, and I will post an update when UPST presents a buy opportunity.
When UPST does have a bounce I would keep an eye on the blue trend line as a short-term price target at $38.37.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.