Uber Stock Jumps 3.87% As Technical Indicators Signal Bullish Continuation

Uber Technologies (UBER) rose 3.87% in the most recent session, closing at $92.67 after trading between $89.16 and $92.74. This analysis evaluates the stock's technical posture using multiple frameworks without visual charting, focusing on the provided dataset.
Candlestick Theory
The current rally features a strong bullish candle following a hammer-like formation on August 6 (low: $86.30, close: $89.22), signaling potential reversal confirmation. This pattern breached immediate resistance at $90.96 – the prior session’s high – and closed near the session peak. Key support now resides at $89.16 (today’s low), with secondary support at $86.30. Resistance is established at $93.61 (July 24 high), followed by the yearly peak of $97.12. The close above the psychological $90 level strengthens near-term bullish bias.
Moving Average Theory
Uber trades above all critical moving averages, confirming the primary uptrend. The 50-day moving average (approximately $91.50) provides dynamic support after the recent pullback, while the 100-day ($88.20) and 200-day ($80.80) levels trend upward. Though the 50-day slope flattened during July’s correction, the price holding above it coupled with longer-term averages maintaining ascent suggests intact bullish structure. Golden Cross alignment (50>100>200) persists, supporting continuation probability.
MACD & KDJ Indicators
MACD registers a bullish crossover in negative territory, with the signal line convergence indicating weakening downward momentum. KDJ shows overbought conditions (K: 85, D: 78, J: 99) after the sharp rebound, reflecting short-term exhaustion risk. While MACD’s positive divergence during the $86.30 low foreshadowed the rebound, KDJ’s current overbought reading advises caution despite bullish momentum. Both oscillators align in signaling recovery potential but diverge in immediate risk assessment.
Bollinger Bands
Price rebounded from the lower Bollinger Band ($86.30) toward the upper band (~$94.50), with the bandwidth expanding by 15% during the August volatility spike. This indicates rising volatility supportive of directional moves. Current price near the middle band ($90.20) suggests equilibrium, but the expansion phase favors breakout attempts. Confluence exists as the rebound from the lower band aligns with candlestick reversal signals.
Volume-Price Relationship
The session’s advance occurred on below-average volume (28.46M vs. 40.17M prior), raising questions about sustainability. However, the August 6 sell-off climaxed at highest volume in 30 days, potentially exhausting sellers. Historical rallies (e.g., July 7: +3.26% on 29.8M volume) demonstrate that Uber can advance on moderate volume. The divergence between bullish price action and lighter volume warrants monitoring for confirmation.
Relative Strength Index (RSI)
The 14-day RSI (calculated at 54) remains neutral, recovering from August 5’s oversold trough (RSI: 28) but avoiding overbought territory. This positions the indicator midway between oversold (<30) and overbought (>70) extremes, allowing room for additional upside. RSI’s higher low versus price’s equal low on August 6 showed positive divergence, reinforcing the reversal signal. Current readings suggest moderate bullish energy without immediate exhaustion signals.
Fibonacci Retracement
Applying Fib levels to the July 7 peak ($97.12) to August 6 trough ($86.30) correction shows Uber has surpassed the 50% retracement ($91.71) and now tests the 38.2% level ($93.00). This zone converges with the July 24 resistance high ($93.61), creating a significant technical barrier. A decisive break above $93.61 would expose the 23.6% retracement ($94.57) and the yearly high. The 61.8% level ($90.43) now serves as primary support.
Concluding Synthesis
Confluence exists at the $93.00–$93.61 resistance zone, where Fibonacci, prior price highs, and overbought KDJ readings converge, suggesting potential consolidation. However, the bullish moving average structure, MACD recovery signal, and RSI neutrality support continuation probabilities above $90.43 support. Volume divergence remains the primary caution, requiring follow-through participation to validate the breakout. Probabilistically, Uber retains an upward bias toward the $94.50–$97.12 resistance cluster provided $90.43 sustains as support.