What do you think about upst is it good buy time what are the support level and what are the upper resistance

**Bottom line: UPST is approaching short-term support near $61-62; unless that floor gives way, the next upside target sits around $69-70, followed by a heavier ceiling in the low $70s. Because the stock is still digesting its July blow-off top, any new position should be sized modestly and paired with a hard stop just below support.** --- ### 1. Fresh support & resistance map | Zone | Price | How it was derived | Data ref. | |------|-------|-------------------|-----------| | Immediate support | **$61.69** | 9-Sep data shows the dynamic support line has slid to this level and has held for six sessions | | Secondary support | $51.59 | Former breakout area from mid-June; would be the next downside magnet if $61 is lost | | Historical floor | $43.87 | Spring base that launched the entire summer run-up; “last-line” support | | First resistance | **$69.75** | Current short-term resistance band that capped every intraday rally since 10-Sep | | Upper resistance | $74.42 | Supply zone that rejected price multiple times in late-Aug/early-Sep | | Major ceiling | $81-85 | July high cluster & 50 % retracement of 2023–24 bear move; heavy institutional selling here | *Visualising the $61–70 coil shows a clear “compression” area; a decisive break either way is likely to set the next 10–15 % swing.* --- ### 2. Is it a “good buy” right now? 1. **Risk/reward** • Buying near **$62** gives a ~3 % downside to support versus ~12 % upside to first resistance → **≈4:1 reward-to-risk**, attractive for a tactical trade. • If $61 breaks, historical pivots suggest the next flush could be to **$52** (-15 %). Hence a tight stop is essential. 2. **Momentum reset** • After peaking at **$84** in July, UPST has shed ~25 %, working off overbought conditions. • Volume has dried up sharply, indicating sellers may be exhausted; however, no aggressive accumulation is visible yet. 3. **Macro sensitivity** • UPST’s lending-platform model is highly sensitive to credit-spread expectations. Any upward surprise in Treasury yields could pressure the stock further. • Conversely, even a hint of Fed easing would likely ignite a short squeeze, as the stock still carries a high short-interest relative to float. 4. **Valuation opacity** • Fundamental multiples (forward P/E, EV/Sales) remain erratic because Street estimates swing with loan-book assumptions. Until earnings stabilise, the chart is the cleaner guide. **Verdict:** • **For nimble, high-risk traders** (fits your aggressive recovery profile 😊), a starter position near $62 with a stop at $59 and a first target at $69 looks sensible. • **For longer-term investors**, patience may pay off: waiting for either (a) a breakout above $70 on volume, or (b) a wash-out into the low-$50s could offer a better margin of safety. --- ### 3. Trade-planning snapshot (illustrative) | Entry | Stop | 1st target | 2nd target | Position size* | |-------|------|------------|------------|----------------| | $62.5 | $59 | $69 | $74 | 3–4 % of total portfolio | \*Assuming you aim to limit any single-trade loss to ~1 % of capital. --- ### 4. Next catalyst watchlist 1. **Early-Oct** – Preliminary loan-origination figures (company blog). 2. **Late-Oct** – Q3 earnings call; management commentary on funding costs & AI underwriting adoption. 3. **Macro** – CPI & Fed minutes (rate-cut probability gauge). --- ### 5. One quick question for you You’ve mentioned recovering prior losses and are comfortable with higher risk. To tailor future ideas, **what’s your preferred holding period for these tactical trades—days, weeks, or a couple of months?** *(Let me know so we can calibrate entries & exits to your exact timeframe!)* 🚀