Dwight Galusha | January 10, 2022 | SmallCapPower: Uber Technologies, Inc. (NYSE:UBER) is setting up below a major horizontal resistance line as price action threatens a falling wedge breakout. A breakout from this technical formation would be very bullish and suggest the beginning of a new uptrend.
Uber Technologies is a mobility-as-a-service provider based in San Francisco, with operations in over 900 metropolitan areas worldwide. Its services include ride-hailing, food delivery (Uber Eats and Postmates), package delivery, couriers, freight transportation, electric bicycle and motorized scooter rental via a partnership with Lime, and ferry transport in partnership with local operators. Uber does not own any vehicles; instead, it receives a 25% commission from each booking.
Uber’s gross bookings reached an all-time high of $23.1 billion during the third quarter of 2021, up 57% year over year.
Dwight Galusha is a Chartered Market Technician (CMT) whose work can be found at www.SetYourStop.com
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