Uber short: rejected bounce, 36 weeks under management
Uber bounces 6.7% but slams into a wall of resistance around 71-72
Uber short: rejected bounce, 36 weeks under management
Our view last week
Uber slides 9% in a single week and heads back to test its recent lows, with sellers commanding 95% of the volume and the RSI down to 36.7, the lowest reading in a month. This swing trading setup shows the decline regaining pace after weeks of stalling: the Sell signal has been under management for 35 weeks, with the short already more than 21% in profit.
This week's summary
After last week's slide, Uber stock bounces 6.7% with buyers back to 78% of the volume, but the attempt stalls hard against a wall of resistance between the 71 and 72 area — the 20-day average, the VWMA, the Kumo floor and the 50-day average, all rejected in the same session. The RSI climbs back to 44 from the month's lows, but price action still flags a distribution phase: the Sell signal, under management for 36 weeks, stays more than 16% in profit.
IQS Phase
58
ordinary
Signal Strength
39
decline losing steam
Sizing
REDUCED
Ranking
#25 / 138
US stocks
Trade P&L %
+16.11%
from signal to date, no stop loss
Rank position
ranks 25th among the 138 sell signals for US stocks in our ranking, with a signal strength of 39 out of 100.
Sector context
SectorIndustrial
Benchmark ETFXLI
Sector regimein positive regime
Performanceweekly -1.54% · monthly -1.92%
UBER belongs to the industrial sector (reference ETF XLI). The sector is classified in positive regime according to our weekly reading.
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