Uber Technologies, Inc.Giá xuống
Ichimoku Watch: Uber Bearish Signals Ahead of Earnings
Upcoming Earnings
Uber Technologies, Inc. (ticker: UBER) is scheduled to report earnings before the market opens on 6 August. The consensus EPS estimate for the fiscal quarter ending June 2024 is $0.31. The reported EPS for the same quarter a year prior was $0.18.
Early Downtrend; Further Selling?
Between mid-2022 and March 2024, Uber was entrenched in a robust uptrend, consisting of dominant higher highs and higher lows. However, subsequent price action has seen sellers take the lead and explore lower levels; Friday witnessed a strong downside gap, forging a fresh lower low and reaffirming an early downtrend. If further selling is seen and support from $57.32 is cleared, trendline support, extended from the low of $23.90, could be tested.
Overhead, resistances are seen at $60.58 and $63.60, alongside the area formed between the Ichimoku’s Conversion Line (blue at $63.12) and the Base Line (red at $66.13). The Conversion Line crossed below the Base Line at the end of July, helping to confirm a bearish downtrend. The Ichimoku Cloud, formed between the Leading Span A (light green at $64.62) and the Leading Span B (light orange at $66.13), also forms a resistance zone worth watching (note that the Leading Span A crossing below the Leading Span B is also considered a bearish trend signal). Finally, the Ichimoku’s Lagging Span (dark green at $58.99) is below price action, another bearish trend signal!
Price Direction?
The early downtrend and the broad bearish signals from the Ichimoku Indicator suggest the stock could take out support from $57.32 and run for trendline support.
Uber Technologies, Inc. (ticker: UBER) is scheduled to report earnings before the market opens on 6 August. The consensus EPS estimate for the fiscal quarter ending June 2024 is $0.31. The reported EPS for the same quarter a year prior was $0.18.
Early Downtrend; Further Selling?
Between mid-2022 and March 2024, Uber was entrenched in a robust uptrend, consisting of dominant higher highs and higher lows. However, subsequent price action has seen sellers take the lead and explore lower levels; Friday witnessed a strong downside gap, forging a fresh lower low and reaffirming an early downtrend. If further selling is seen and support from $57.32 is cleared, trendline support, extended from the low of $23.90, could be tested.
Overhead, resistances are seen at $60.58 and $63.60, alongside the area formed between the Ichimoku’s Conversion Line (blue at $63.12) and the Base Line (red at $66.13). The Conversion Line crossed below the Base Line at the end of July, helping to confirm a bearish downtrend. The Ichimoku Cloud, formed between the Leading Span A (light green at $64.62) and the Leading Span B (light orange at $66.13), also forms a resistance zone worth watching (note that the Leading Span A crossing below the Leading Span B is also considered a bearish trend signal). Finally, the Ichimoku’s Lagging Span (dark green at $58.99) is below price action, another bearish trend signal!
Price Direction?
The early downtrend and the broad bearish signals from the Ichimoku Indicator suggest the stock could take out support from $57.32 and run for trendline support.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.