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UBER EARNING TOPS EXPECTATIONS; STOCK FALLS - Capital Street FX

05-Nov
22:43 IST

Uber Technologies Inc.’s stock is currently trading at 28.64-lower by 7.90% as compared to the previous closing price.

The company reported its third-quarter earnings after the market close on Monday. Uber generated a loss per share of 68 cents for the third quarter. The loss was, however, better than- the market expectation of 81 cents. The company brought in $3.81 billion in revenue for the third quarter of 2019. The revenue was above the consensus estimates of $3.69 billion.

The company’s stocks plunged today after Uber reported over $1billion in losses. Uber Technologies is building out its long-haul trucking and food delivery business Uber Eats. The ride-sharing company collected total third-quarter revenues of $3.81 billion. The revenue was above the market expectation of $3.69 billion.

On the technical front, the current price is below the MA5. The current price is below the lower band of the Bollinger Bands and is heading downwards. The RSI is currently at 35.18% and suggests that the market can move in the downward direction.

 

TRADE SUGGESTION- STOP SELL AT 28.54 TAKE PROFIT AT 27.74 STOP LOSS AT 28.94

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