Uber Earnings on Deck

$UBER

UBER 0.00%↑ reports Tuesday morning before the open. This name has been one of my larger positions for quite some time, and as I’ve mentioned in the past, we can become familiar with the price action of a particular stock and feel comfortable trading around it (long or short).

The stock respected its 200 day moving average during the October sell-off, a positive sign, and my I maintain that on a technical basis, as long as it’s above that AVWAP from its IPO (around $36.50 currently), my preference is to be long.

I didn’t think the DASH 0.00%↑ report was particularly good (interest income > operating income?) but the market has decided it wants to go up so far in November. So while I’m cautious on the fundamental outlook that UBER 0.00%↑ could report, it ultimately might not matter.

So I’m not adding into the print. I’ve written some calls against current holdings, and if the stock pulls back on the report, I’ll be looking to see if the 200 day and/or that AVWAP are levels to add again. A positive reaction to earnings could easily take this stock back above $50.