Sell signal under management, week 34
Uber sheds 2.8% as sellers retake control of the Sell signal
Sell signal under management, week 34
Our view last week
After a week that belonged to the sellers, buyers have taken back control on Uber stock — 62% of the trading volume — with price essentially flat, up just 0.1%, sitting right above the double bottom in the 68 area where the rebound had already run 11%. The MACD histogram keeps climbing and cash flow keeps improving, even though it's still negative — early signs of fatigue in a decline now in its 33rd week. Uber technical analysis: the trade is still in the money, up more than 11% since entry.
This week's summary
Uber's Sell signal has been under management for 34 weeks, with the short already worth 13.6% in profit. After buyers took back control last week, sellers regained command this week: the stock shed 2.8%, with 76% of the volume on the sell side and the RSI down to 44.9, the lowest of the past four weeks. Price stays boxed between the first support and first resistance: Uber's technical picture still shows a decline alive, but without fresh momentum.
IQS Phase
65
in tension
Signal Strength
20
decline fading out
Sizing
MINIMUM
Ranking
#100 / 140
US stocks
Trade P&L %
+13.60%
from signal to today
restricted Platinum content