Momentum

Resistance

Gains

<ul class="list-ic vertical">
 <li><span>1</span> <a>Uber stock price surged 2.62% on Friday and closed at $45.78.</a></li>
 <li><span>2</span> <a>Uber Technologies Inc. (NYSE: UBER)&nbsp; introduces package return service.&nbsp;</a></li>
 <li><span>3</span> <a>The daily chart illustrates a consolidation of over two weeks near the recent swing low.</a></li>
</ul>
<p>Uber Inc. stock price witnessed a rise in Friday’s session and managed to gain over 2.62% by the end of the session. The daily chart illustrates a consolidation of over two weeks near the recent swing low. The breakout of this may hike the price to surge above the $50 Mark.<br><br>Uber stock price may have gained ahead of the news that the company launched a service to pick up return packages from customers for $5 or less. The company wants to use its ride-share drivers to ship the items to the post office or other stores. Uber aims to compete in the growing package-return market, which increased due to the pandemic and online shopping.</p>
<p>The price trend analysis demonstrates that the stock persists in a strong uptrend above the key moving average of the 50-day EMA since the very start of the year. The company yielded a 48.01% return in the last six months and over an 80% return to its investors on a year-to-date basis.<br><br>Currently, the Uber stock price is consolidating in a range and is trying to sustain near the 50-day EMA. The breakout above the range will turn the short-term trend in the favor of buyers. The long-term is already buyers’ supportive which might invite more investors to initiate longs and the price may show gains in the coming sessions.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh6.googleusercontent.com/FK6ziAwsEWhWSP8aqvgXPa18i9enMfQ1OjpQiFXopynu__SzU_1oz24vEzROmo2T5ul0LPAWi86zlCNE-ebCg8Jeqr9dD9OgPwuOgUFS7D3ZyABhBWN_k3YjzOocTjn9fCPQKgU1v5rwboMJqVZkabs" alt="Uber Stock Gains As The Company Enters Package Returning Business">
  <figcaption class="wp-element-caption">
   Source: barchart.com
  </figcaption>
 </figure>
</div>
<p><a href="https://www.thecoinrepublic.com/2023/09/28/uber-stock-price-halts-below-50-will-the-rally-extend/" rel="noopener noreferrer nofollow">Uber stock</a> derivatives data analysis states that the current implied volatility in the market is 48.41% with a decrement of 0.99% in the last trading session. The at-the-money strike price has 1879 open contracts on the PUT side and 546 open contracts on the CALL side indicating the dominance of sellers at the CMP.&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="strong-uber-stock-price-forecast-for-2023-strong"><strong>Uber Stock Price Forecast For 2023</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh4.googleusercontent.com/FzwwYpjOFvrgXODzcyTKv_ZAxv2HJb9y929JK9rE5ZMBCpjUfk0CBPzAf5grhoOfnNRqccCW6ALViuJAlRyMFuJ_Qri4UqnsscLU_2B7dN20VH0j3zp5Cv6Cjrtd4zZvssgJC9Ix8y_7zleq9Sp9m-I" alt="Uber Stock Gains As The Company Enters Package Returning Business">
  <figcaption class="wp-element-caption">
   Source: barchart.com
  </figcaption>
 </figure>
</div>
<p>The average analyst price target for Uber stock in 2023 is $58.23, which represents a potential upside of 27.20% from the current price. However, there is a wide range of analyst price targets from $45 to $75.</p>
<p>The most optimistic analysts believe that Uber stock could reach $75 in 2023 indicating a maximum potential of 63.83% to the upside if the global transportation and tech industry grows strongly.</p>
<h3 class="wp-block-heading" id="strong-technical-indicators-signal-momentum-in-buying-strong"><strong>Technical Indicators Signal Momentum in Buying</strong></h3>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh4.googleusercontent.com/IUYsnwSiwiUYrqxNtiesKsgG2tDJ14b1HPN1aQC5HmaAl9arTR3LYuG44S4iGeDIFb61jEFsJEmqGvZiZtC90TzgZ2qrnmvWvezWI5owLq1QvBUWrfPcNElLQe_x157hidwM9lwfHcUuC3modDoP6eU" alt="Uber Stock Gains As The Company Enters Package Returning Business">
  <figcaption class="wp-element-caption">
   Source: UBER 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>The overall technical indicators including RSI and MACD opinion rating for the <a href="https://www.thecoinrepublic.com/2023/09/28/uber-stock-price-halts-below-50-will-the-rally-extend/" rel="noopener noreferrer nofollow">UBER stock</a> is a 72% “buy” with an average short-term outlook on maintaining the current trend.&nbsp;&nbsp;</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>Uber stock price rose 2.62% on Friday as the company launched a new service to pick up return packages from customers. The stock is in a strong uptrend above the 50-day EMA since the start of 2023 and has given over 80% return to investors. The stock is consolidating near the recent low and may break out above $50. The average analyst target is $58.23, with a maximum potential of $75. Uber stock may benefit from the growth of the global transportation and tech industry.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support Levels:</strong> $43.18 and $41.72</li>
 <li><strong>Resistance Levels:</strong> $46.14 and $49.08</li>
</ul>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<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>

Uber Stock Gains As The Company Enters Package Returning Business

Table of Contents

Thecoinrepublic.com

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