Catching The Upturn In UBER
by Mike Paulenoff
December 20, 2021 • 8:45 AM EST
Last Tuesday morning, December 14, Mike Paulenoff alerted MPTrader members to a bullish technical setup in UBER.
Mike wrote about the stock, which pre-market had traded down to 34.88 tp a 13-month new low before 10% to 38.45 on headlines from a UBS Internet Conference:
"My NEAR and INTERMEDIATE TERM pattern and momentum work argue that today's Bear Trap is a VERY significant low (34.88), and ends the most recent corrective down move from the 10/08/21 recovery rally high at 48.88, AND also has the right setup to consider the larger correction from the 2/11/21 high at 64.05 complete as well. In a perfect world, a pullback to or below 36.50 is the Buy Window, with protective stops placed beneath today's pre-market low at 34.88. A climb above nearest resistance at 39.40 to 40.20 will trigger powerful confirmation signals that UBER has established a meaningful corrective low and is in the grasp of a sustainable recovery rally that will point to 47-48 initially."
The very next day, UBER pulled back from 38.45 to 36.24 prior to launching into a powerful new advance that continued into this past Friday's close at 39.77, just off the high for the week at 40.00. That was nearly 9% above Mike's pullback Buy Window discussed in his Coverage List posting on the prior Tuesday morning.
What next for UBER? Join Mike and MPTrader members for intraday discussions about UBER and many other individual stocks, ETFs, macro indices, cryptocurrency, and commodity market technical and fundamental setups heading into the end of 2021 and the beginning of 2022.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
markets, plus key ETF component stocks in sectors like technology, mining, and banking.
Sign up for a Free 7-day Trial!
More Top Calls From Mike
Last Wednesday afternoon (6/11/25), with META circling 700 after establishing a 4-month new post-April 2025 recovery rally high at 708.87, this is what we discussed about the current technical setup: Just a heads up that my pattern work is warning me that the 52% upmove from the 4/07 low at 467.31 to today's (6/11) high at 708.87 has the right look of a completed, overextended, overbought, unconfirmed rally peak that leaves the price structure vulnerable to a correction of some magnitude.
On May 6, 2025, during the final hour of trading, and before AMD was scheduled to report quarterly Earnings that evening, I posted the following analysis to our MPTrader Discussion Room:AMD reports Earnings after the close... The only conviction I can derive from my pattern work is that the 4/08/25 low at 76.48, which represented a 66% correction from the March 2024 high at 227.30, has the right look of a significant low that completed a major bear phase.
On April 22, 2025, I posted the following analysis about my technical setup work in XBI (SPDR SP Biotech ETF):XBI (SPDR SP Biotech ETF)-- Could it be? Could it be that the near-40% correction from the 11/11/24 multi-year high at 105.47 to the 4/09/25 low at 66.66 fully discounted all the bad news in this sector? From a BIG Picture perspective, my attached Daily Chart shows this month's spike low into the vicinity of the previous major corrective low-zone starting in May 2022.
In the early afternoon on April 11, this was my note to our members:"IBIT (iShares Bitcoin Trust ETF)-- From a trading perspective, anyone who is in sync with the Bitcoin setup might consider owning IBIT (iShares Bitcoin ETF) against a stop below its 4/07/25 low at 42.98 (see my attached Daily Chart below)...
Last Thursday (4/17/25) afternoon, ahead of NFLX (Netflix) post-close earnings report and the three-day Good Friday holiday weekend, we discussed the technical setup and whether or not the NFLX pattern was positioned to react positively to the news : The NFLX setup heading into Earnings later today is favorable for upside continuation above the prior two rally highs at 993.45 (4/15) and 998.70 (3/25), but not to a new ATH above 1064.
