Uber Profit-Taking Creates a Potential Buy Zone

about 1 month ago

Josh

"And then another one that reported earnings this morning was Uber. And yes, they beat on earnings per share and revenue. And the stock dropped. Why, guys? In 2022, the stock was $20. And right here, this month, the stock was $100. Absolute incredible move. This is just profit taking the golden pocket for Uber. And you say, 'What are we talking while we're talking about a fib uh trend line that when something hits a pivot top, normally the pivot low is found in the golden pocket. For Uber, that's around $50. Now, some of you might think that's way too low for Uber to go. It might be. I see support around $70 as well."

The speaker highlights Uber's dramatic run from $20 to $100 and notes the current pullback as profit taking. He identifies a potential buying opportunity at a pivot low around $50, signaling a tactical entry point if the dip materializes.

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