
UBER – My Bullseye Pick of the Week - Bullseye Pick of the Week
My Bullseye pick that I want to buy this week is (UBER).
My Trade Plan Details:
- UBER Jan 17 $70 calls near $.65
- Stop: Closes UBER below $64
- Target 1: $72
- Target 2: $80
UBER options 01/17/25 near $0.65 – 2 days later $1.25 = 92%
My Reasoning:
This week, I feel a lot more confident in the market, with the QQQ trading solidly above the 20-hour moving average. That is a great technical signal for me.
The biggest problem I see right now is that so many stocks have already made a very big move, and I feel like it is late to the party.
On the other hand, if I try to buy stocks that haven’t moved much yet, I have found that to be a losing strategy. If a stock hasn’t moved by now… why would it move higher anytime soon?
Right now, I am going with a stock that I am honestly not a huge fan of and have avoided for a long time.
I think the tides are starting to turn, though, and we could see a resurgence in investor interest that carries this stock higher from here.
My plan is to get started near the open today and buy both stock and options, hopefully near my target entry price, which I list below.
If this trade doesn’t work out, I will use a stop with a closing price below $64.
If things go my way, I think we could see UBER could rally to $72, and possibly even to $80, which is target #2 for me.