Rally

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>UBER stock price showed buying interest in the past sessions.</a> </li> 
 <li> <span>2</span> <a>Buyers have taken a pause and are looking to retain $50 level.</a> </li> 
</ul> 
<p>UBER stock price is above the 100-day and 200-day EMAs and is trying to surpass the 20-day EMA that will push UBER toward $50. Moreover, the price action shows that UBER stock is trading in the bull trajectory and is guiding bullishness for the past sessions. However, the higher highs formation has now stopped, and a double top pattern was witnessed on the charts, which is a negative cue if it breaks below $42 in the following sessions.&nbsp;</p> 
<p>UBER stock price is close to the 50-day EMA, taking support, and is waiting for an aggressive buying momentum to extend the primary hurdle of $50. If buying interest develops above the 20-day EMA, sharp buying will lead the stock to the $65 mark, followed by $70. Furthermore, the options chain indicates that at the strike price of $45, massive call writing of 37.57 Lakh was witnessed, which acts as a strong resistance. The sellers need to push UBER stock below the $44 mark to save their positions, whereas at the strike price of $42, put writing of 17.80 Lakh shares suggests strong support. Meanwhile, the trend is intact, and if UBER stock sustains at $45, a short covering rally could be anticipated.</p> 
<p>At press time, UBER stock price is trading at $45.14 with an intraday gain of 1.97%, showing bullishness on the charts. Moreover, the trading volume increased by 0.87% to 16.78 Million, and the market cap is $92.245 Billion. However, analysts maintained a buy rating with a yearly target price of $58.46, suggesting a growth outlook for the upcoming sessions.</p> 
<p>Uber Technologies, Inc. is a technology platform that develops and operates technology applications, networks, and product-to-power movement from point A to point B. The firm offers ride services and merchant delivery service providers for meal preparation, grocery, and other delivery services. It operates through the following segments: Mobility, Delivery and Freight. The Mobility segment refers to products that connect consumers with Mobility Drivers who provide rides in various vehicles, such as cars, auto rickshaws, motorbikes, minibusses, or taxis.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-uber-stock-in-dilemma-takes-halt-near-45-strong"><strong>UBER Stock In Dilemma Takes Halt Near $45</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="464" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-968-1024x464.png" alt="UBER Stock Price Halts Below $50, Will the Rally Extend?" class="wp-image-172018" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-968-1024x464.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-968-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-968-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-968-1536x696.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-968-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-968-1140x517.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-968.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: UBER Stock Price Chart At TradingView
  </figcaption>
 </figure>
</div> 
<p>On the daily charts, UBER stock is trading above the 200-day EMA, highlighting the uptrend, and is likely to attain follow-on buying, directing UBER stock to the $50 mark. Furthermore, the UBER share price is above the 50% Fib zone and is close to the 61.8% Fib zone, indicating that buying interest developed in the past sessions.</p> 
<p>The RSI curve stayed in the oversold region and showed a bearish divergence, indicating possible further downside. The MACD shows a bearish crossover and formed red bars on the histogram, suggesting a neutral perspective for the upcoming sessions.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/09/27/hershey-co-nyse-hsy-will-hsy-stock-sustain-above-200-mark/" target="_blank" rel="noreferrer noopener">UBER stock price</a> was trading in an uptrend and showed a vertical rebound in the past sessions. However, the trend is intact, and buyers are waiting for an opportunity to surpass the cluster of $50 that will initiate a short covering rally soon. Furthermore, the chart structure suggests a positive outlook, and that UBER stock will continue to outperform in the upcoming sessions.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $40 and $35</p> 
<p>Resistance Levels: $50 and $60</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

UBER Stock Price Halts Below $50, Will the Rally Extend?

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