In our May 10 review of Upstart Holdings (UPST) we wrote that "UPST may have some minor recovery bounce but I would not recommend trying to play it. Just stand aside and let UPST fall." On Wednesday a major sell-side firm cut their fundamental recommendation of this artificial intelligence (AI) lending platform to "underweight" with a $19 price target.
Let's check out the charts of UPST again.
In the daily bar chart of UPST, below, we can see that the shares have stayed weak since our May 10 review. Prices are down sharply from their zenith in October. UPST has tried to move sideways from the May low but that stability may prove to be temporary. The slopes of the 50-day and 200-day moving averages are bearish.
The On-Balance-Volume (OBV) line shows weakness from October to May followed by a slight improvement. The Moving Average Convergence Divergence (MACD) oscillator has inched up from a low in May but still remains below the zero line.



