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- UPST stock price is forming a long term base by consolidating in narrow range between $12.00 to $20.00
- Upstart stock price is trading near the 50 day EMA and short term support at $15.00
- Upstart Holdings Stock (NASDAQ: UPST) down by 17% on a weekly basis
UPST stock price fell 17% on a weekly basis and lost 80% of returns generated over the past 2 months. However, the major loss came in the current week when most of the US technology companies stock prices got negatively affected by the collapse of Silicon Valley Bank.
Upstart stock price have still managed to defend the $15.00 support on the weekly closing basis which will act as a strong demand zone in the coming week. Upstart Holdings Inc (NASDAQ: UPST) is an artificial intelligence lending platform that partnered with banks and credit unions to provide consumer loans. Recently, Upstart stock price grabbed the investors attention due to the AI craze circulated in the market.
UPST stock: Exclusive technical analysis
UPST stock price took a U-turn from the 52 week low at $12.01 and gained positive momentum which created a hope of the bullish trend reversal. Later, UPST stock rallied more than 100% in the period of one month. However, the AI bubble cools down and Upstart stock price took a halt near to $26.00 level which shows strong bears are still active in the supply zone. UPST stock bulls have tried to sustain the price above the $20.00 level but unfortunately overall market sentiment turned bearish and Upstart stock price has again reverted in the downward direction.
UPST Stock price has closed in the previous trading session at $15.51 with an intraday loss of 4.38%. However, Upstart stock returns are still positive by 20% on the YTD basis. Currently, UPST stock is expected to see some relief rally from the demand zone between $12.00 and $15.00. According, to technical analysis, The probability of reaching $30.00 in end of 2023 will increase only when UPST stock breakout of $20.00 and sustain the higher level. Till then it is expected to remain in the range.
Upstart Holdings (UPST) – Q4 Earnings update
Upstart Holdings (NASDAQ: UPST) released its fourth quarter results on 14 February 2023 which reported EPS of -$0.25 vs estimate of -$0.473 and surprised its inventors. Later, Upstart stock price shot up 28% on a single day, which again created a hope of range breakout but sadly this attempt also failed.
Conclusion
UPST stock price fell 17% on a previous week due the global selloff derived by the collapse of Silicon Valley Bank. However, Upstart stock price managed to defend the $12.00 and $15.00 level which will act as a demand zone in the coming days. Technical analysis suggests Upstart Holdings (NASDAQ: UPST) may reach $30.00 by the end of 2023 only when the stock is able to regain and sustain above $20.00 level.
Technical levels
Resistance levels : $22.00 and $26.00
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.
