Earnings Release

With anecdotal evidence the ‘gig’ economy is having trouble, link here, Uber is at resistance.

Earnings were released before the regular open; the response was a gap higher.

That gap and subsequent action, shown below.

Uber UBER, Daily

Volume was heavy, indicating the potential for continued upside (not advice, not a recommendation).

The chart shows we’ve just penetrated well-established resistance; now, slightly below the 38.2%, retrace level.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

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