Uber Stock Plunges 4.99% As Bearish Signals Converge Below Key 93.20 Support

Candlestick Theory
Uber Technologies exhibits notable bearish candlestick patterns, with the most recent two sessions forming consecutive long red bodies (-4.99% and -1.03%), confirming strong selling pressure after a failed breakout above $99.70. Key resistance is solidified at $99.70 (September 16 high), while immediate support emerges near $92.12 (September 17 low), aligning with the August 19 swing low of $88.84. The September 15 bullish candle (3.09% gain) was swiftly invalidated, reflecting vulnerability to reversals. A close below $92.12 may trigger further downside toward the $88–$89 consolidation zone.
Moving Average Theory
The 50-day moving average (~$93.80) crossed below the 100-day MA (~$94.20) in early September, signaling deteriorating medium-term momentum. While the current price ($92.95) trades below both, it remains above the ascending 200-day MA (~$85.50), preserving the long-term uptrend. Bearish pressure is amplified by the 20-day MA ($95.60) acting as dynamic resistance. A sustained break below the 200-day MA would be structurally concerning, though not immediately threatened.
MACD & KDJ Indicators
MACD (12,26,9) shows a bearish crossover below the signal line, with the histogram expanding negatively since September 11, indicating accelerating downward momentum. KDJ (9,3,3) aligns with this view: The K-line (15.2) and D-line (28.4) plunged into oversold territory below 20 on September 17. Although KDJ’s oversold reading may foreshadow a relief bounce, its divergence from MACD’s bearish trajectory suggests unresolved selling pressure. No bullish divergences are evident.
Bollinger Bands
Volatility expanded sharply as prices breached the lower Bollinger Band ($94.50) on September 17, closing near the band’s extremity. This deviation typically signals oversold conditions but requires confirmation for mean reversion. The bandwidth expansion from contraction in early September reflects elevated downside momentum. A rebound toward the 20-day middle band ($95.60) could emerge if volatility normalizes, but failure to reclaim this level may extend the downtrend.
Volume-Price Relationship
The bearish breakdown was validated by surging volume. The September 17 decline (-4.99%) occurred on 44 million shares—160% above the 30-day average—confirming distribution. Earlier rallies (e.g., September 15’s 3.09% gain on 18.6M shares) showed weaker volume conviction, suggesting unsustainable upside. Volume divergence warns that current support levels may lack buyer commitment.
Relative Strength Index (RSI)
The 14-day RSI (32.5) entered oversold territory on September 17, down sharply from 55 two sessions prior. While this may indicate short-term exhaustion, caution is warranted as RSI can remain oversold during strong trends. No bullish divergence preceded the sell-off, reducing its predictive reliability. A rebound above 35–40 is needed to signal potential stabilization.
Fibonacci Retracement
Applying Fibonacci to the August 19 low ($88.84) and September 16 high ($99.70) shows critical levels. The 61.8% retracement ($93.20) was breached decisively on September 17, with the next support at the 78.6% level ($91.00). The 50% level ($94.27) now acts as resistance. A close below $91.00 would open a path toward the August swing low ($88.84), while reclaiming $94.27 could ease bearish pressure.
Concluding Synthesis
Technical indicators for Uber Technologies reflect bearish confluence. Candlestick patterns, moving average crossovers, MACD deterioration, volatile downside breakout, and high-volume selling collectively signal entrenched weakness. Oversold readings (KDJ, RSI) and Fibonacci support near $91.00 may catalyze a tactical rebound, but resistance at $94.27 (Fibonacci 50%) and the 20-day MA ($95.60) must be overcome to invalidate the downtrend. Absent bullish divergences or volume-supported reversal patterns, the burden of proof remains on buyers to stabilize prices.