Uber launches first commercial robotaxi pilot in Spain as stock faces renewed weakness

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Uber slides 2.91% to $71.62 today

Highlights

Uber remains below major moving averages, signaling persistent bearish sentiment across short-, medium-, and long-term timeframes.
Technical indicators confirm weak trend strength and recent buyer exhaustion, with overbought momentum fading and downside risk increasing.
For the coming week, Uber is projected to trade between $71.35 and $75.37, with further downside likely if support fails.

Bearish bias as price holds below key moving averages

Uber is trading at $71.62, below the SMA-20 at $74.02 and the SMA-50 at $73.78, indicating sustained short- and medium-term selling pressure. The current price remains well under the SMA-200 at $83.60, confirming ongoing longer-term bearish structure, and with the Ichimoku Kijun at $75.21, this level now acts as immediate resistance. Near-term support is found at the HMA ($70.83), with key support at the SMA-100 ($75.59), while immediate resistance stands at the Kijun ($75.21) and key resistance is reinforced at the SMA-100 ($75.59).

Momentum exhaustion as overbought signals offset weak trend

MACD on D1 signals bearish momentum and ADX on D1 remains low at 9.59, suggesting a lack of trend strength. While the D1 RSI at 50.57 shows neutral-to-mild buying conditions, Stoch RSI and BBP on D1 both read overbought, hinting at recent buyer exhaustion. The AO on D1 aligns with the downward trend and supports ongoing bearish momentum. CCI on D1 is neutral, with weekly performance showing Uber up $1.22 (1.73%) from last week's $70.40 close. The current price sits in the middle of the weekly range. Weekly volatility stands at 7.16%, with price action consolidating after a test of both weekly highs and lows. In today's session, the stock is notably down 2.91% from the previous close, reflecting renewed intraday weakness.

Downside risk elevated as bearish signals outweigh recovery prospects

For the coming week, Uber’s price is expected to range between $71.35 and $75.37, with the current price close to the lower end of this band and well above the 52-week low of $68.48 but far from the 52-week high of $101.99. The probability of further price gains is very low (less than 20%), while a decline is more likely, reflecting persistent bearish signals from MACD W1, RSI W1, and the weekly moving averages. The baseline scenario envisions continued sideways movement within the projected range. A bullish scenario would require overcoming resistance at $75.21, while a break below $71.35 would reinforce bearish momentum and potentially test the yearly lows.

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Previously it was reported that Uber faced ongoing bearish momentum, with downside risk prevailing amid sustained selling pressure and key resistance levels overhead. As the current article examines emerging catalysts and the potential for sentiment shifts, traders should closely monitor for any notable break above resistance, which could mark an inflection point in the stock’s near-term trend.

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