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- NYSE: UBER stock price is trading slightly above the 0.236 Fibonacci level.
- In Thursday’s letter, Uber’s stock price was down 1.35% at $27.82.
- The MACD indicator continues to move towards the neutral zone on the daily price chart.
Uber recently launched its global advertising unit, aiming to become the largest international advertiser. Although Uber reported a loss of $2.6 billion in the second quarter of this year, they surprised investors with free cash flow of $382 million for the first time ever.
Uber is aiming to make $1 billion in the next two years by 2024. He plans to display promotions in the Uber app, and in the seats above and behind his hairy hands. This lunch is driving the pump in Uber stock price as it has remained above the $25 level for the past seven trading sessions.
NYSE: The share price of UBER has been looking bullish for the past several days. However, since mid-September, the digital asset was underperforming until reaching a 60-day low of $22.94 on October 11, 2022. The market bulls hardly try to recoup their losses as soon as possible. The asset price is trading slightly above the 0.236 Fibonacci level. Near the $25 mark, buyers found a short-term support level to protect themselves from a sharp decline.
In terms of the daily price scale, Uber stock price is trading above the 20-day exponential moving average (green). This is the only helpful area for buyers. Conversely, the 200 EMA is well above the live price. The bears are waiting for a retest of $30 to sell the stock. In Thursday’s letter, Uber stock price was down 1.35% at $27.82 while staying above the support line.
The daily RSI indicator appears to be neutral at 50 points showing a sideways trend. Moreover, the MACD indicator continues to move towards the neutral zone on the daily price chart.
Conclusion
Uber stock price is trading above the 20-day exponential moving average. Since the gap-up price opened, buyers barely managed higher price stability above the $25 support level. Furthermore, the bears are waiting for the UBER stock price to retest $30 to sell.
Support level – $25 and $20
Resistance level – $30 and $33
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
