By Nigam Arora & Dr. Natasha Arora
UBER is long from $25.58. It is trading at $85.24 as of this writing. This represents a 232% gain.
Tesla Disappointment
UBER stock is running up on disappointment with Tesla’s robotaxi event. Please see the Morning Capsule for more details.
Breakout
Please click here for a chart of UBER. Note the following:
- UBER stock gapped up after the Tesla event.
- From a technical perspective, UBER stock is breaking out.
Threat Averted
Both UBER and LYFT were under threat from Tesla’s robotaxis. Now after Tesla’s event, the prevailing belief in the stock market is that Tesla’s robotaxis are further way than previously though. Some of the buying is coming from the threat to UBER and LYFT being temporarily averted.
The Real Reason
The Arora Report algorithms help us provide you with insights and analysis that you cannot get anywhere else. Our algorithms are showing that over half of the buying today is a short squeeze. Many hedge funds were shorting UBER before the Tesla event. Their thinking was that UBER would fall after the Tesla event. When the Tesla event disappointed and UBER stock starting going up, hedge funds are being forced to cover their shorts.
Prudent investors should know that short squeezes end.
Zones
For those who are following the Good Way, the Buy Now rating is *** (To see the locked content, please take a 30 day free trial).
For those following the Best Way, the buy zone is $*** – $***. Consider being patient and waiting for a pullback. Remember, the goal is not to chase, but to maximize risk adjusted returns over your lifetime.
The recommended quantity is ***% – ***%. However, those starting a new position now may consider a quantity of ***% – ***%.
The very long term target is $117 – $126.
What To Do Now
Those in UBER may want to take advantage of the strength and take partial profits in the zone of $*** – $***. To learn how to appropriately take partial profits, please see the Trade Management Guidelines.
Those not in UBER may consider following the parameters given above.
Note: Signal(s) to enter, add, reduce, exit, hold or change.
To take a free 30-day trial to paid services to gain access to more opportunities, please click here.
This post was just published on ZYX Buy Change Alert.
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Nigam Arora
Nigam Arora is known for his accurate stock market calls. Nigam is a distinguished master of the macro. He is a popular columnist with over 100 million page views, an engineer, and nuclear physicist by background. Nigam has founded two Inc. 500 fastest growing companies and has been involved in over 50 entrepreneurial ventures. He is the developer of Theory ZYX of Successful Change Management and is the author of the book on Theory ZYX, as well as the developer of the ZYX Change Method for Investing.
Dr. Natasha Arora
Dr. Natasha Arora has significant expertise in investment analysis especially biotech, healthcare, and technology. Natasha is a graduate of Harvard Medical School followed by a postdoc at MIT. She has published several peer reviewed research papers in top science journals.
