Pretty straight forward. United has been building this descending wedge and it has plenty of room left to consolidate down. It failed the breakout today with a gap up in the morning. Also a bearish divergence on the RSI.
Shorted after hours at 25.43 for the weekend
$UBER Looking at a longer time frame. Strong rejection today off both the .236 Fib which perfectly coincides with the 50 dma, which just so happens to also coincide with the top of the down trend channel. There is no way imo. that we are getting through this until Travis is done selling as the technical resistance will be fierce enough on it's own.
UBER looks like it wants to retake its 50 MA daily and 10 MA weekly. Already re-took the 50 on the 4 hour. 30.60 should provide fierce resistance on both the chart and the fib. RSI looks solid on all time frames
Lockup selling pressure has largely finished besides Travis Kalanick, and London news is behind us. Someone spent a fortune getting this stock to...
