UBER is testing the lower boundary of a multi-year ascending channel on the monthly chart. RSI has cooled far more than price, a classic hidden bullish divergence that often precedes the next leg up.
Channel Bottom Retest:
UBER has been trading within a well-defined ascending channel since the 2020 lows. Price is now back at the lower trendline, a level that has historically attracted buyers. This is the first clean test of channel support since the 2022 correction, making the zone structurally significant.
RSI Has Cooled More Than Price — Hidden Bullish Signal:
The key observation: while price has made a lower high from the 2025 peak ~$87 to current levels ~$72, RSI has declined even more aggressively from the 75+ zone all the way to 47.67 at the mid-line. The momentum indicator has "over-corrected" relative to price. This means sellers are exhausted and the risk/reward favors buyers at this juncture.
Monthly Timeframe = High-Conviction Signal
A channel support test on the monthly chart carries significant weight. Monthly candles filter out noise and represent genuine accumulation/distribution. A bounce from this level could easily deliver a 20–35% move back toward the channel midline or upper boundary.
⚠️ This is a technical trade idea for educational and informational purposes only. It does not constitute financial advice. Past chart patterns are not indicative of future results. Always manage your own risk and position size. DYOR
Channel Bottom Retest:
UBER has been trading within a well-defined ascending channel since the 2020 lows. Price is now back at the lower trendline, a level that has historically attracted buyers. This is the first clean test of channel support since the 2022 correction, making the zone structurally significant.
RSI Has Cooled More Than Price — Hidden Bullish Signal:
The key observation: while price has made a lower high from the 2025 peak ~$87 to current levels ~$72, RSI has declined even more aggressively from the 75+ zone all the way to 47.67 at the mid-line. The momentum indicator has "over-corrected" relative to price. This means sellers are exhausted and the risk/reward favors buyers at this juncture.
Monthly Timeframe = High-Conviction Signal
A channel support test on the monthly chart carries significant weight. Monthly candles filter out noise and represent genuine accumulation/distribution. A bounce from this level could easily deliver a 20–35% move back toward the channel midline or upper boundary.
⚠️ This is a technical trade idea for educational and informational purposes only. It does not constitute financial advice. Past chart patterns are not indicative of future results. Always manage your own risk and position size. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.