Uber Technologies, Inc. (UBER) is the Stock of the Day at Real Money Monday as the stock traded firmer in pre-market action Monday after Citigroup upgraded Uber shares to buy from neutral. We do not have a lot of trading history to work with on UBER, but let's check our app and the charts to see if the stock can reverse its recent decline.
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These names are displaying both quantitative and technical deterioration.
The main problem with price targets is that they are a static number in a dynamic situation.
Concerns about the action being overheated remain, but rotational action keeps the momentum going.
Short and sweet: This is based on the high running emotions of the markets. There's little to it beyond that.