Uber surges - Analysis - 03-08-2022

2022-08-03 11:57:26 GMT (Economies.com)
 

Uber's stock rallied after reporting a loss in the second quarter, however earnings rose by double the forecasts, with positive net cash flow for the first time, sending the stock 18.90% higher, or 4.65 points, and settling at 29.25, with trading volumes surpassing 108 million shares, above 10-day averages of 34 million shares. 

 

The stock was boosted after leaning on the support of the 50-day SMA, lending it positive momentum that helped it pierce the short-term downward trend line, with positive signals from the RSI.

 

Therefore we expect more gains for the stock, targeting the first resistance at 34.30, provided it holds above 26.70.

 

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Expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
1.0265
0.0067
0.6597%
1.2139
0.0022
0.1816%
20.583
0.219
1.075%
92.262
3.784
4.277%
97.88
-1.74
1.75%
1796.970
15.295
0.859%
 
 
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