UBER Thoughts on 13/05/2019

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!

FUTURES

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

10/05/2019 FTSE Closed at 7203 points. Change of -0.06%. Total value traded through LSE was: £ 5,100,896,801 a change of -16.78%

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