Greetings All,
UPST has seen tremendous appreciation over the last few weeks, after releasing its first earnings report. Nevertheless, the technicals indicate retracements ahead, likely around the 50% area ($110), which coincides nicely with the 20MA. This is apparent with the breakout below the symmetrical triangle formed on the daily. The MACD also confirms this pullback with a bearish crossover on the daily. I'm actually targeting a 61% retracement ($96) in the coming weeks.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Exercise your own due diligence.
UPST has seen tremendous appreciation over the last few weeks, after releasing its first earnings report. Nevertheless, the technicals indicate retracements ahead, likely around the 50% area ($110), which coincides nicely with the 20MA. This is apparent with the breakout below the symmetrical triangle formed on the daily. The MACD also confirms this pullback with a bearish crossover on the daily. I'm actually targeting a 61% retracement ($96) in the coming weeks.
Happy Trading!
Disclaimer. My ideas are for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. There are risks associated with investing in securities. Investing in stocks, bonds, exchange traded funds, mutual funds, options and money market funds involve risk of loss. Loss of principal is possible. Exercise your own due diligence.
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