Good day Traders and Investors. In today’s article, we will look at the past performance of Uber Technologies Inc. ($UBER). In our last article we explained that the stock has reached the Blue Box area where a bounce can happen. This is how we saw it back in Aug 2022.
Uber Elliottwave August 2022 View (Daily):
In our initial article from August 2022, we were expecting the bounce in (1) to unfold in 5 waves, fail and pullback to correct the cycle against 06.30.2022 low in blue (2).
Uber Elliottwave Latest View (Daily):
Since Aug 2022 forecast, $UBER has managed to bounce in 5 waves and ended blue (1). It is now favoured to be correcting the cycle against June 30th, 2022 low in a Double three structure (WXY) and retest the lows at $20.31. We are expecting buyers to appear as long as the low at $19.90 on 06.30.2022 remains intact.
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