Trade of the Day – Uber Technologies, Inc. (NYSE: UBER) April 11, 2023 158

Trade of the Day

Uber Technologies, Inc. (NYSE: UBER)

(Current Price: US$31.74) – TECHNICAL BUY

Buy price: US$31.74     Stop loss: US$30.00    

Take profit 1: US$33.00     Take profit 2: US$37.40


The price could break out of a downtrend channel after finding a double bottom at the US$30 level. The Moving Average Convergence Divergence (MACD) technical indicator also displayed a positive crossover recently, signalling bullish momentum.


The price could head to the first resistance at US$33.00, which was a recent horizontal resistance level last month.


It could then head to the next resistance level at US$37.40, confluent with significant swing highs formed in February this year and March last year.

Expected timeline of the trade is 4-8 weeks from the date of report issuance.

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About the author

Profile photo of Zane Aw

Zane Aw
Technical Analyst

I analyze the stock market and conduct technical analysis to provide investment recommendations. I look forward to having a conversation with you in our in-house seminars and presentations to identify good risk-reward trading strategies together. I graduated from Nanyang Technological University with a Bachelor of Accountancy (Honours).

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