Uber Stock Shows Bearish Trends Despite 50% Upside Forecast
Portfolio Pulse from Surbhi Jain
Uber Technologies Inc (NYSE:UBER) is set to report its Q2 earnings with Wall Street expecting 31 cents in EPS and $10.5 billion in revenues. Despite a 23.23% increase over the past year, the stock is down 6.01% year-to-date and is showing strong bearish momentum, trading below key moving averages. The MACD indicator and RSI suggest the stock is oversold, potentially attracting investors. Analysts maintain a Buy rating with a price target of $84.62, indicating a 50% upside.
August 05, 2024 | 8:11 pm
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Uber Technologies Inc (NYSE:UBER) is showing strong bearish momentum ahead of its Q2 earnings report, trading below key moving averages. Despite this, the stock is oversold according to RSI, and analysts maintain a Buy rating with a significant upside potential.
The stock is currently exhibiting bearish trends, trading below key moving averages and showing a negative MACD indicator. However, the RSI suggests the stock is oversold, which could attract investors looking for discounted opportunities. Analysts' consensus rating of Buy with a significant upside potential adds a positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100