$UBER: After This Selloff, Where Would You Look For A Reversal?
Tape Breakdown & Reversal Zones $Uber(UBER)$ has faced steady selling pressure heading into early September, pulling back as traders digest broader tech volatility and evaluate long-term capital allocation toward autonomous vehicle (AV) fleet partnerships. The $70.00 – $72.50 Primary Demand Pocket: This multi-month structural floor represents the key accumulation zone where institutional buyers stepped in during prior pullbacks. An intraday liquidity sweep into $71.00–$72.00 followed by a quick reversal wick signals strong buyer absorption. Overhead Resistance ($78.50 – $80.00): Sellers have aggressively defended the $78.50–$80.00 ceiling, which aligns with recent pivot highs and key moving average clusters. Reclaiming $80.00 is required to co
While broader market proxies like $SPY tested the lower bounds of their expected move early Tuesday, tech heavyweights ( $NVIDIA(NVDA)$ , $Advanced Micro Devices(AMD)$ ) are providing a firm bid beneath $Invesco QQQ(QQQ)$ . 1. Relative Outperformance: $QQQ opened at $720.90 and dipped to an early low of $716.33, but dip-buyers stepped in immediately to defend the 20-day moving average. The index is refusing to give up the key $716.50 support shelf. 2. The $722 Breakout Trigger: The morning high sits right at $721.88. Unlocking another leg higher requires a 30-minute candle close above $722.00, which would trigger momentum buyers and clear the path toward $726.50