Technical Analysis – UBER Uber Technologies, Inc.BATS:UBERVictor_RaulUBER has remained in a well-defined long-term uptrend since mid-2022. Over the past two years, price action has traded within a rising channel, consistently respecting both the lower support trendline and the upper resistance boundary. The most recent correction toward the lower bound of the channel resulted in a decline of approximately 37%, representing a healthy pullback within the broader bullish structure rather than a deterioration in trend. Following the successful retest of the lower channel support, price has shown a notable reaction off those lows, followed by two consecutive attempts to reclaim and break above the most recent local resistance area — a key signal that buyers are actively defending current levels. More importantly, the latest rebound has managed to break above the short-term descending parallel channel that had been containing the correction, suggesting that bearish momentum is beginning to fade. From a price structure perspective, the recent formation also resembles a potential double bottom, a classic reversal pattern that typically signals exhaustion in selling pressure and opens the door for a continuation move to the upside if confirmed with a breakout above neckline resistance. Momentum indicators are beginning to align with the bullish thesis. On the RSI, we can observe an early breakout signal, often considered a leading indication of improving momentum. Meanwhile, the MACD is currently developing a bullish crossover, reinforcing the possibility of a trend reversal in favor of buyers. Adding a fundamental sentiment layer, recent insider activity shows a purchase of approximately $1.6 million by the company’s CFO, representing a 357% increase in their position at the end of February — a signal that may strengthen bullish conviction from a positioning standpoint. As long as price holds above the recent support zone, the technical structure favors a continuation toward higher levels and a potential retest of the upper boundary of the broader ascending channel.