UBER Trade on Nov 4, 2020 09:31 from Cklamb: Tradervue User Stock Trades.

UBER
Intraday Fundamentals
• hares of Uber Technologies Inc. ( UBER ) shot up 11.0% toward a near 9-month high in premarket trading Wednesday, after the ride-hailing company won an election fight in California , where the passing of Proposition 22 (http://

11604469037) allows drivers to be considered independent contractors instead of employees. Rival Lyft Inc.'s stock (LYFT) soared 14.9% ahead of the open. The stocks had been under pressure heading into the election, with Uber 's stock down 5.2% over the past month and Lyft shares down 5.1%, while the S&P 500 gained 0.6%. "With the controversial AB5 legislation enacted in the State of California which was focused on classifying drivers as employees and not contractors, in essence the underlying business models for Uber and Lyft were hanging in the balance if Prop 22 did not pass in California to keep the contractor model," Wedbush analyst Dan Ives wrote in a note to clients. "Taking a step back, this removes a significant overhang and dark cloud for the likes of Uber and Lyft and ends this 'head scratching' AB5 legislation chapter that was a major threat to the future of the Gig Economy and thousands of drivers throughout California ."
Technical Stats
Daily

Hourly

Intra

Trading Strategy
• long 38.31 if it pulls back to there
• long a 40 on a pullback if this breaks 41 at the open and take a breather.
Reading the Tape
I got great stall on the opening short that should have led me to hold that position a bit longer.
Trade Management
Trade Notes
There was no need to get out of this trade. I was too small to let some work. i was thinking about the cents per share. This could have been a knock out trade all the way back into 40 maybe even where I had planned on looking long.