- Upstart stock price fell 30% on a monthly basis and is trading near a 52 week low.
- UPST stock price slipped below 50 day EMA showcase downtrend.
- The price was negatively impacted by global sell off.
Upstart (UPST) stock price fell 30% on a monthly basis and almost 15% decline came from the current week. It has slipped below the 50 day EMA and broken down the $16.00 support, highlighting the strength of the bears.
UPST stock is near its 52 week low which might act as an important demand zone for the bullish traders. It formed a double top bearish pattern and broke the neckline support which created concern for its long term investors.
It closed the previous session at $12.94 with an intraday decline of 4.71%, the market capitalization stands at $1.05 billion. In mid-February, Upstart Holdings Inc released fourth quarter earnings, which met the analyst estimates.
As such, UPST share price surged 28% on a single day and tried to break out of the $20.00 hurdle. However, this was not successful and prices began to consolidate by forming a rejection candle. UPST stock price continued to consolidate for a few weeks in the $16.00-$20.00 range, in the hope for an upside range expansion.
Will Upstart Stock Price Hit a Fresh 52 Week Low?
Upstart stock price witnessed huge selling and drops below the lower range support of $16.00, which brought in further decline. UPST also got negatively impacted by the global sell off in the U.S banking and financial stocks.
Technical analysis suggests that if the sell off in the global market continued, then UPST stock might hit a fresh 52 week low in the coming months. However, if the bulls are able to defend the $12.00 support, then a short term relief rally is possible to clean out the short positions.
Will UPST Stock Price Rebound?
UPST stock formed a bearish pattern and any signs of recovery or rebound is not visible. Therefore, the Upstart share price is in a bear grip and any short term pull back will lack momentum on the higher levels.
However, if the UPST stock bulls manage to break out of the $20.00 hurdle, then we may expect some sharp rise for the short period. The technical indicators like MACD had generated a negative crossover, suggesting bearishness to continue for some time. The Relative Strength Index (RSI) at 34 sloping down denotes that prices might enter into the oversold territory.
Concluzie
UPST price is down by 30% on month and racing toward its 52 week low. Technical analysis suggests that USPT stock price is in a bear’s grip and there no signs of recovery or rebound is visible.
Niveluri tehnice
Niveluri de rezistență: 20.00 USD și 26.00 USD
Niveluri de suport: 12.00 USD și 10.00 USD
Declinare a responsabilităţii
Părerile și opiniile exprimate de autor sau de orice persoană numită în acest articol au doar scop informativ și nu stabilesc sfaturi financiare, de investiții sau de altă natură. Investiția în sau tranzacționarea activelor cripto implică un risc de pierdere financiară.
Andrew este un dezvoltator blockchain care și-a dezvoltat interesul pentru criptomonede în timpul absolvirii sale. El este un observator pasionat al detaliilor și își împărtășește pasiunea pentru scris împreună cu a fi dezvoltator. Cunoștințele sale backend despre blockchain îl ajută să ofere o perspectivă unică scrisului său
Source: https://www.thecoinrepublic.com/2023/03/26/upstart-stock-will-upst-stock-price-rebound-from-52-week-low/