$UBER is at a Turning Point – February 20, 2025
This is Scott at Scott Trades on Twitter with your Chart of the Day from StockMarketMentor.com. I want to take a quick look at Uber ( NYSE: UBER ).
Uber ( NYSE: UBER ) is at an interesting spot here. As we can see Uber ( NYSE: UBER ) is back near some recent highs. This level on Uber ( NYSE: UBER ) is a certain level of resistance that the stock has battled against for a long time, even back here in February of 2024 this level has been resistance.
Here we are in 2025 and it’s slamming up against resistance again. I think this stock is at a turning point where it has an opportunity to potentially break out of this clear level of resistance and potentially make a new high, getting above this previous high from October of last year.
I would look for Uber ( NYSE: UBER ) to get above and stay above, let’s say, $82.00, move above that level, close above that zone, and do it on volume. I’m going to set an alert right here on Uber ( NYSE: UBER ) right at $82.00, and look for that strong move-through, coming on volume.
I think that could be an actionable trade idea. As long as it holds up above that resistance I think you can buy this stock. Look for this to move up above that level, and then you’ll want to use that 82.00 level as your support zone, at least on a momentum trade.
This stock could very well just consolidate right under $82.00, that would be healthy as well. Then you’re still using that level as your trigger, but then moving a stop down to right there. So there are two different potential setups here on Uber ( NYSE: UBER ) that we’re watching play out over at Stock Market Mentor.
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