Uber - When will the next passenger board?

Company description

Uber Technologies is a technology provider that connects riders with drivers, hungry people with restaurants and food delivery services, and shippers with carriers. The company's on-demand technology platform could eventually be used for additional products and services, such as autonomous vehicles, drone delivery, and Uber Elevate, which the company calls "airborne ridesharing." Headquartered in San Francisco, Uber Technologies operates in over 63 countries with over 91 million users who order rides or food at least once a month. About 83% of gross revenue comes from ridesharing and 16% from food delivery.

Fundamentals

Fundamentally, things also seem to be improving at the same time. Earnings per share (EPS) have been increasing on average since . The company even ended last year with a profit. The company's quarterly figures are expected again on August 6th. Analysts are expecting a profit of USD 0.31 per share for the second quarter. If the estimates are confirmed and a chart-technical reversal is evident, it is definitely worth a look.

Chart technical outlook

In terms of charts, the share is still in a long-term, intact uptrend. Since the all-time high of USD 82.14, the share has now entered a correction. It is currently trading at the former breakout area of around USD 63. From an analytical point of view, this retracement is flawless and, as is textbook practice, in 70% of all cases after a breakout, this retracement is maintained. In the medium term, the share could therefore be quite interesting if it can prevail against the current volatile market phase. A renewed attempt to reach the record high is quite conceivable.

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