UBER Technologies, Inc to crash 35%

2024年11月30日

And that might just be the beginning of the end for UBER.

** A forecast for the months ahead **

On the above 6 day chart price action has rallied an astonishing 300% in the past 24 months. A number of reasons now exist for a bearish outlook. They include.

1) “Insider Has Just Sold Shares In Uber Technologies”

“Chief Marketing Officer and Senior Vice President of Communications & Public Policy recently netted about US$2.0m selling shares at an average price of US$72.90.”

simplywall.st/stocks/us/transportation/nyse-uber/uber-technologies/news/this-insider-has-just-sold-shares-in-uber-technologies

Don’t ignore insider selling.


2) Price action and RSI support breakouts.

3) Regular bearish divergence.

4) The Put/Call ratio. Calls outnumber Puts 3 to 1.

Is it possible price action continue up? Sure.
Is it probable? No.

Ww

2024年12月5日

交易進行

Confirmed broken market structure.
Long Puts, you're ITM. Enjoy!

2024年12月5日

註釋

A message on the broken market structure. It is confirmed. Like Intel and SMCI ideas before them.
Because of that UBER price action will not return above structure for a period of 18 months to 2 years.

2024年12月6日

註釋

** Correction update: now from 35% to 50-60% region **

2024年12月11日

註釋

-18% correction so far. Some folks are buy the dip, but it just keeps dipping.

$56 first support test on H&S extension

1月7日

註釋

The forecast has received a number of messages from twitter, the comments below, and the inbox. Everyone is a bull and highly critical of the idea.

Am I wrong?

Of course it is possible. Anything is, as a contrarian I must entertain both bullish and bearish outlooks.

On reflection and carefully reading the criticisms I’ve increased the forecast from -35% to a -60% correction.

On the 2 week chart below:

1) Broken market structure.

2) Two 2 x weekly candles now close under the 2-week 21 SMA, very bearish.

3) Price action enters the 5 day Gaussian channel, confirming a year long downtrend ahead.

Sorry bulls, you’re all out of luck.


2 week chart

1月14日

註釋

A bearish crossover on the bull/bear market band has now printed.
There are no certainties only probabilities, however the months ahead for this business is very probable in the red.

8 day bearish crossover.

2月4日

註釋

The double top is followed by a confirmation of broken market structure.
Use swing highs from retail traders as your exit liquidity.

4月4日

註釋

Complete breakdown of market structure that has held support since January 2024.

Look for support around $36 down the line.

4月22日

註釋

"The US Federal Trade Commission has filed a lawsuit against Uber, alleging the ride hailing and delivery company engaged in deceptive billing and cancellation practices."

bbc.com/news/articles/c1drkq0dy07o