Uber (UBER) – Headwinds Ahead – Sept 12th, 2019

S&P 500 Market Outlook: Bullish

Bearish Trade: UBER $34.00 – Technology

The bearish DailyPlay we chose for Thursday, Sept 12th is Uber (UBER). UBER is part of the Technology Sector (XLK). XLK has rallied 4.98% higher over the past month and its 1m and 6m trend remains bullish but has reached overbought conditions and recently was rejected at $82 resistance. 

UBER’s 1m trend turned neutral on Sept 9th and recently bounced lower off its $35 resistance level. With a technical score of 2 (out of 10), UBER is a weak stock that will likely continue lower.

As a stop loss, if UBER was to trade above $35 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.

View UBER Trade

DailyPlay Trades & Performance

New! Track open DailyPlay trades with performance metrics and analytics.

Upcoming Event:

Prepare Your Portfolio Recessions & Bear Markets– Thur 9/12 @ 4:15PM EST Register Now