Hi everyone, this is Gabin for another analysis.
So Uber has formed a bullish Head-and-shoulders pattern represented by the green trendlines i drew.
The stock broke the neckline (descending red trendline) few days ago.
Now we've got a pull back on the neckline and volumes came yesterday.
I will consider buying for a swing trade to reach the next resistance. Despite the fact that the RRR (Risk-Return-Ratio) is not that good, win probability is above 50% to me.
Disclaimer: This post is not an investment advice and you should always trade according to your strategy.
So Uber has formed a bullish Head-and-shoulders pattern represented by the green trendlines i drew.
The stock broke the neckline (descending red trendline) few days ago.
Now we've got a pull back on the neckline and volumes came yesterday.
I will consider buying for a swing trade to reach the next resistance. Despite the fact that the RRR (Risk-Return-Ratio) is not that good, win probability is above 50% to me.
Disclaimer: This post is not an investment advice and you should always trade according to your strategy.