• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Stocks

Highly Shorted Upstart Needs a Kickstart

UPST looks like it can retest its May low in the weeks ahead.
By BRUCE KAMICH
Jul 09, 2021 | 12:10 PM EDT
Stocks quotes in this article: UPST

During the Lightning Round segment of Mad Money Thursday night one caller asked about Upstart (UPST) . "I don't understand the short position in this stock. This company is really good," commented Jim Cramer about the online lender that offers consumer loans.

The short interest in UPST is around 10 million shares.

Let's check out the charts and indicators.

In the daily Japanese candlestick chart of UPST, below, we see a mixed picture. Prices are in an uptrend from the start of trading in December. UPST has made an impressive advance from around $30 to briefly over $180.

Trading volume has increased since the IPO and that is good but the On-Balance-Volume (OBV) line shows a decline from early June telling us that traders have become more aggressive sellers. The trend following Moving Average Convergence Divergence (MACD) oscillator is below the zero line and bearish.

 
In the weekly Japanese candlestick chart of UPST, below, we see a mixed picture. We can see some lower shadows below $120 and above $130. The small real bodies tell us that buyers and sellers are in balance.
 
The weekly OBV line is in a decline and bearish.
 
 
In this daily Point and Figure chart of UPST, below, we can see a potential downside price target in the $89 area.
 
 
Bottom-line strategy: I have no special knowledge of who or why anyone is short UPST. Keeping that in mind it looks like UPST could decline to retest its May low.
 
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Short-selling | Investing | Stocks | Technical Analysis | Financial Services | E-Commerce | Mad Money

More from Stocks

Fed Talk Prompts Some Buying

James "Rev Shark" DePorre
May 17, 2022 4:37 PM EDT

This is still just bear-market bounce, but that doesn't mean it can't run for a while.

J.B. Hunt's 18 Wheelers Are Ready to Roll Again

Bruce Kamich
May 17, 2022 1:15 PM EDT

Let's see what the charts and indicators look like.

You Don't Have to Takes Sides on Apple (If Your Timing Is Right)

Ed Ponsi
May 17, 2022 11:51 AM EDT

It appears that hedge fund owner Michael Burry is betting against AAPL and Warren Buffett is betting on the stock. But let's look at their strategies and why they might both turn out winners.

Home Depot Can Make a Recovery Rebound

Bruce Kamich
May 17, 2022 11:47 AM EDT

Let's take a look at the charts.

Walmart's Results Are Ugly, But For Now It's Tradable

Stephen Guilfoyle
May 17, 2022 11:20 AM EDT

Walmart is technically oversold, and deservedly so based on the fundamentals.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 03:07 PM EDT PAUL PRICE

    Why is Wal-Mart Down Big Today?

    Besides its poor earnings report Wal-Mart (WMT) wa...
  • 07:14 PM EDT PAUL PRICE

    A New, Very Scary Movie

  • 08:51 AM EDT PAUL PRICE

    Advice From the Future...

  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login