Ride-hailing company Uber Technologies (UBER) gapped higher Tuesday on the heels of a better-than-anticipated earnings report. For technical analysts a gap is a price void and typically comes from a demand surprise (gaps in commodities typically come from supply surprises). For train travelers a "gap" is something they need to watch in between train or subway cars.
Let's check out the charts of UBER.
In the daily bar chart of UBER, below, we can see that the shares were moving up in advance of Tuesday's earnings beat. Prices are not trading at the high of the day at this point in time telling me there is some profit-taking going on. Where UBER closes in the range Tuesday is important information. Prices are trading above the now-rising 50-day moving average line.
On-Balance-Volume (OBV) line shows improvement from early July telling us there was more aggressive buying ahead of Uber's earnings report. The Moving Average Convergence Divergence (MACD) oscillator has crossed above the zero line for an outright buy signal.