UBER #Brent #Dax The media have been frantically inventing numbers in an attempt to make sense of what happened with Uber. It seems, in the USA, conventional wisdom expected the share price to accelerate upward, perhaps even to the 80 dollar mark. Instead, the IP fizzled, closing the day down 7.6%
Traditionally, we dislike IPO’s as often they appear designed to extract funds from the gullible, those folk who believe a share price will always keep heading upward. More usually, once any PR hype fades, the gullible find themselves trapped at the top of a price cycle, watching their money going on what usually is a protracted holiday.
When reviewing price movements during Fridays share launch, a couple of interesting numbers appear to have made themselves known.
Firstly, if the IPO is in real trouble, the share price needs below 38 dollars to justify real panic. Aside from knowing the market wants to drive the price downward, we’d be unable to project any realistic “bottom”. The immediate situation suggests weakness below 41 risks a visit to an initial 39.8 with secondary, if broken, at the critical 38 dollar bottom.
On the plus side, price growth above 45 is liable to promote growth to an initial 46 dollars. If bettered, secondary calculates at 46.7. Unfortunately, the share price requires exceed 48.20 to suggest it’s about to get illogical as we’re completely unable to calculate higher beyond such. In other words, if the market exceeds 48.20, the market intends to UBER somewhere interesting.
For now, it give the excuse to present the most boring chart available!
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
5:07:02PM |
BRENT |
70.47 |
68.9 |
67.99 |
66.78 |
70.4 |
70.96 |
71.155 |
71.84 |
69.83 | |
|
5:08:53PM |
GOLD |
1286.13 | |||||||||
|
5:10:35PM |
FTSE |
7280.98 | |||||||||
|
5:12:10PM |
FRANCE |
5391 |
‘cess | ||||||||
|
5:14:15PM |
GERMANY |
12201 |
11963 |
11905 |
11804 |
12122 |
12210 |
12246.5 |
12344 |
12108 | |
|
5:16:11PM |
US500 |
2886.17 |
‘cess | ||||||||
|
5:19:06PM |
DOW |
25955.4 |
Shambles | ||||||||
|
5:36:05PM |
NASDAQ |
7600.12 |
Success | ||||||||
|
5:38:07PM |
JAPAN |
21493 |
‘cess |