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Uber Technologies Inc (UBER) “On a long-term technical basis, the stock (UBER) is trading below its 200-day moving average which generally implies it is in a negative trend.
The stock has support at 29.40 and 26.58. If the stock breaks down through support at 29.40 then it will probably continue lower to 26.58. The stock has resistance at 30.89 and at 38.78. If the stock breaks up through resistance at 30.89 then it will probably continue higher to 38.78. The 200-day moving average is at 31.33. This will also act as resistance. However, the stock has broken out of its long-term downtrend according to the fibonacci fan, which is significant. If the stock can form new support above 29.40 look for a rally to previous highs. The stock is extremely oversold according to the Stochastic Indicator (15.20).”
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