UBER rising after VWAP bounce LONG
UBER on a 30 minute time frame chart crossed over an anchored VWAP about January 25 and
topped January 30th then retested the slowly rising mean anchored VWAP in a double bottom
fashion on the following day. The relative strength indicator is in the 65-75 range and the zero
lag MACD cycling mostly above the horizontal zero level. I see UBER as suitably setup for
a swing trade long when it is near to the bottom of the support trendline in the ascending
megaphone pattern.
topped January 30th then retested the slowly rising mean anchored VWAP in a double bottom
fashion on the following day. The relative strength indicator is in the 65-75 range and the zero
lag MACD cycling mostly above the horizontal zero level. I see UBER as suitably setup for
a swing trade long when it is near to the bottom of the support trendline in the ascending
megaphone pattern.
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Mostly sideways with relative strength compared with the general market.
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A bit of an uptick allowed the stop loss to be cut in half. Holding full position.
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UBER did a fakeout breakdown and then rallied into the channel to resume bullish continuation. Full position ongoing.
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Others are profit taking today. I find the small dip an opportunity to load more shares.