United

Taxi

Impact

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>UBER share price fell by 1.43% in Intraday, on Tuesday, and closed at $44.27.&nbsp;</a> </li> 
 <li> <span>2</span> <a>Uber Technologies, Inc. has recently announced a collaboration with other private taxi partners to increase the supply.&nbsp;</a> </li> 
 <li> <span>3</span> <a>UBER’s share price slipped below the 50-day EMA and currently struggling to recover.&nbsp;</a> </li> 
</ul> 
<p>Uber share price showed weakness on the charts after it failed to break above the all-time high and declined witnessing a double top pattern near the round level of $50. The Uber stock price also showed the breakdown of a bearish flag pattern and slipped below the 50-day EMA.&nbsp;</p> 
<p>The Uber share price may remain volatile and might try an attempt to recover on Wednesday. It is after some positive news that Uber Technologies announced on Tuesday of joining forces with Los Angeles Yellow Cab and its affiliates to increase the availability of taxis on the ride-hailing giant’s platform.&nbsp;</p> 
<p>The news states that Uber has been forging similar partnerships in global markets such as Europe and Asia over the past two years, strengthening its ties with the private taxi industry that was disrupted by the emergence of ride-hailing startups more than a decade ago.&nbsp;</p> 
<p>The new partnership will allow taxis affiliated with LA Yellow Cab and its five partner fleets to receive bookings through the Uber app. The six taxi companies – which include San Diego Yellow Cab, California Yellow Cab, Long Beach Yellow Cab, Fiesta Taxi Cooperative, and United Checker Cab – will contribute up to 1,200 cabs to the Uber platform.&nbsp;</p> 
<div class="wp-block-image"> 
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  <img decoding="async" loading="lazy" width="1024" height="551" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-885-1024x551.png" alt="How Partnership With Taxi Operators Impact UBER Share Price?" class="wp-image-171624" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-885-1024x551.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-885-300x162.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-885-768x414.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-885-750x404.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-885-1140x614.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-885.png 1452w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: barchart.com 
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 </figure> 
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<p><a href="https://www.thecoinrepublic.com/2023/09/08/uber-stock-price-prediction-will-uber-technologies-touch-50/" target="_blank" rel="noopener noreferrer nofollow">UBER stock</a> option-chain analysis shows that the current implied volatility in the market is 37.65% with an increment of 1.55% in the last trading session. The nearest resistance of $45 has an OI of 3,045 open contracts on the CALL side and 2,916 open contracts on the PUT side, indicating the sellers are slightly dominating the CMP.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-uber-stock-outlook-for-the-next-week-strong"><strong>UBER Stock Outlook For The Next Week.&nbsp;</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="456" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-884-1024x456.png" alt="How Partnership With Taxi Operators Impact UBER Share Price?" class="wp-image-171623" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-884-1024x456.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-884-300x134.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-884-768x342.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-884-1536x684.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-884-750x334.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-884-1140x508.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-884.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: Uber Technologies Inc.&nbsp; 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
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<p>UBER stock price slipped below the 50-day EMA showing weakness over the charts. However, the price is nearing an important support zone of $43 form where bulls might attempt the turn the table in the short term.<br><br>Uber’s share price has slipped from an all-time high however, the stock did not show any major correction indicating the buyer’s presence at the lower levels. The price prediction states that the stock might accumulate buyers at the lows and surge to test an all-time high again.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-uber-stock-price-slipped-below-the-50-day-ema-strong"><strong>UBER Stock Price Slipped below the 50-Day EMA</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large"> 
  <img decoding="async" loading="lazy" width="1024" height="456" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-883-1024x456.png" alt="How Partnership With Taxi Operators Impact UBER Share Price?" class="wp-image-171622" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-883-1024x456.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-883-300x134.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-883-768x342.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-883-1536x684.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-883-750x334.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-883-1140x508.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-883.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Source: Uber Technologies Inc.&nbsp; 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>The daily <a href="https://www.thecoinrepublic.com/2023/09/08/uber-stock-price-prediction-will-uber-technologies-touch-50/" rel="noopener noreferrer nofollow">UBER stock</a> price chart shows that the price slipped below the 50-day EMA indicating weakness over the charts. The RSI and MACD are signaling neutral to beamish momentum in the stock at the moment.&nbsp;</p> 
<p>Currently, the overall technical opinion rating, including the RSI and MACD indicators is signaling a 56% “buy” with the weakest short-term outlook on maintaining the current direction.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>Uber Stock price fell below the 50-day EMA after failing to break the $50 level and forming a double-top pattern near an all-time high. The stock also broke a bearish flag pattern, showing weakness on the charts. However, the stock may bounce back from the $43 support zone, where buyers may accumulate. The stock did not show a major correction from the all-time high, indicating bullish potential. Uber also announced a partnership with LA Yellow Cab and its affiliates to boost its taxi supply on its platform.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $431.1 and $41.7.</li> 
 <li><strong>Resistance levels:</strong> $49.12 and $51.55</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

How Partnership With Taxi Operators Impact UBER Share Price?

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