A story about UBER and Cramer

A story about UBER and Cramer

2 months ago, I wrote about #UBER Stock

On the 6th of November, the Google Trends registered spike of mass interest in UBER stock. https://i.imgur.com/cjValzY.png
Headlines of Popular Media was Negative. Earnings news was disappointed. Here is an example from CNBC. Jim Cramer is pessimistic about Uber. https://i.imgur.com/14jNlm3.png
But let’s look at the chart. https://i.imgur.com/VWRl2JH.png

1) On those days, price did hit the bottom line A of down-wave-channel. Study the price and volume. Narrow range and extremely high volume. This volume is bigger than the IPO volume. What does this all mean? People started to SELL “toxic stock”, but professional money entered the market in order to absorb the falling stock. Why? Probably they know some insightful information and they have positive expectations about UBER? The chart tells – very possible. That is why we got so heavy volume in a narrow bar.
2) Big activity sustained in the next days as well.
3) It looks like DB. This green bar suggests that the big volume in 26-27 zone reflected the strength (Accumulation).

What is next? I expect some more bearish impulses caused by lines B and C. But in longterm, UBER has a bright projection.

What did happen since those days of November/2109?

Despite bad news and a negative outlook from Jim Cramer, UBER broke above down-channel trend-lines and exceed above round figure 40$ per stock. But look at the volumes.

A too high spike in volume on up-bar is a sign of hidden weakness. This is (a potential) up-side mirror view of 06/Nov/2019 red bar. The news is good. What Cramer is talking about?

Everything is OK. His positive review confirms the hidden weakness. 

Some stalling of bullish pace is expected. Do not feel FOMO amid breaking out above psycho level $40.

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