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UBER STOCK RISES ABOVE MA5 ON RATING UPGRADE - Capital Street FX
Uber Technologies Inc.’s stock is currently trading at 30.34-higher by 2.26% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 3.24%. The stock has erased some of its earlier gains after the opening bell.
Investment bank Citigroup upgraded the ride-sharing company’s stock to buy from neutral. The investment bank, however, reiterated its price target on stocks of Uber at $45 per share. Citigroup lifted its rating saying the company’s third-quarter results could signal renewed revenue growth. Stocks of the ride-sharing company have fallen 32% over the past three months.
On the technical front, the RSI is currently at 39.71% and suggests that the market can move in the upward direction. The current price is above the MA5. The %K has crossed the %D from below to the upside at around 8% and suggests that the market can move in the upward direction.
TRADE SUGGESTION- LIMIT BUY AT 30.30 TAKE PROFIT AT 30.90 STOP LOSS AT 30.00