Let’s check out the charts of UBER. The last time we got in the back seat was May 13 and we gave an upside target of $42 which has been left in the dust.
In this updated daily bar chart of UBER, below, we can see that prices are making new highs. UBER is above the rising 50-day moving average line.
The On-Balance-Volume (OBV) line is steady to higher and the Moving Average Convergence Divergence (MACD) oscillator just turned upwards to a fresh outright buy signal.
In this weekly bar chart of UBER, below, we can see the big upside move that started at the beginning of November. Prices are trading above the rising 40-week moving average line. The OBV line and the MACD oscillator are bullish.
In this daily Point and Figure chart of UBER, below, we can see a potential upside price target of $62.
In this weekly Point and Figure chart of UBER, below, we can see a longer-term target of $101.
Bottom line strategy: The charts and indicators of UBER remain bullish and pointed higher. Trade it from the long side risking to $47. $62 and the round number of $100 are the potential price objectives.