Ease of Movement, Lower

Last week was a swift breakdown from a wedge.

For the week, UBER closed down -8.46%, a decisive move.

Now, in the pre-market, it’s attempting to test that wide (weekly) bar.

It may continue (testing) in the regular session.

Either way, for a short position, the stop is well defined; last week’s high (not advice, not a recommendation).

Note: Uber had been forming a top (dissipating energy) for two months before last week’s break.

Stay Tuned

Charts by StockCharts

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The Danger Point®, trade mark: No. 6,505,279