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- 1 Upstart Stock Price has bottom out and forming a long term base
- 2 Upstart Holdings Inc (NASDAQ: UPST) beat Q4 EPS estimate by 47.17 and revenue estimate by 9.96%
- 3 Upstart Share price recovered 58% form the 52 weeks low at $12.01
Upstart Stock (NASDAQ: UPST) price has recovered 58% from the 52 week low and forming a bullish reversal pattern which shows that the buyers are gaining confidence and UPST prices are returning back to the bullish track. In the previous session Upstart stock price closed at $18.82 with the intraday gains of 6.51%.
On 14 February 2023, Upstart Holdings Inc (NASDAQ: UPST) released its Q4 result, reported EPS $-0.25 vs estimate of $-0.473 and revenue reported $146.913 million vs estimated was $133.609 million which is quite surprising and better than the expected. Later, the market reacted positively after the earnings and prices shot up 28% on the intraday session but unfortunately UPST prices failed to give the follow up momentum.
Upstart Stock price might see turnaround?
Upstart Stock price had witnessed higher volume spikes and bulls managed to push the prices above the 50 day EMA indicates that the short term trend is still working in the direction of the bulls. However, from the past few days UPST stock prices have stuck into the narrow but it is likely to break out on either side soon.
On the higher side, $22.30 will be acting as an immediate hurdle level for the bulls and if bulls succeeded to break out of the hurdle level then it might begin the rally to reach $27.00 which is 39% upside from the current level.
Upstart Stock price downside is limited?
On the other hand, if overall market sentiment turned bearish then Upstart stock price might struggle for a short period of time. If UPST stock prices face rejection and take the downward direction then $15.00 will act as a savior as well as an important support zone for the bullish traders.
Meanwhile the technical indicators of the Upstart stock like MACD curve is still below the average line indicating mild bearishness whereas the RSI at 52 sloping upside denotes bulls are trying their best to bring back the strength in the prices.
Conclusion
Upstart Stock (NASDAQ: UPST) price seems to be stuck in the narrow range and bulls are trying to defend the 50 day EMA to keep the short term trend in the direction of bulls. The technical analysis suggests that the UPST stock prices are forming a short term base and expected to see upward momentum in coming months.
Technical levels
Resistance levels : $22.39 and $26.39
Support levels : $15.00 and $12.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
