Uber IPO price was at 45 in May 2019. From May till now, it has plunged nearly 43% to a low of 25.86.
Not sure if Uber is out of the woods yet fundamentally, but looking at the chart, it has ended its bearish descending wedge. So, I would be initiating a small position to test it soon.
Here's a series of Uber articles for your reading pleasure :
This would also be another stock to consider going long if the coronavirus worsen over time. Beside tradingview.com/chart/MCD/2rm9jxXk-French-Fries-anybody/, I believe takeaway for F&B would continue to thrive since people are afraid to go out but still, they need food.
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Praise Lord. Like the way it grows slowly upwards...
Considering how the private hire drivers are affected here in Singapore, I am quite surprised the stock price recovers fairly fast. Here in SG, due to the circuit breakers (lockdown), nobody is going out except to do the groceries shopping. Thus, the take up rate for private hire have dropped drastically. And with the work from home order by the government, less employees are going to the office. So, the demand is further reduced.
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34.08 has proven to be a strong resistance. Let's hope it would break out soon
This stock has not performed too badly since the March Low. From 15 dollars, it has risen to 50 dollars within the next 8 months. That is more than 3 fold returns had you invested in it.
I am hoping for it to pull back to either 45.04 (resistance turned support) or even better when it closed the gap at 36 before buying more.