One Real Money subscriber recently asked me to look at the charts of Upstart Holdings Inc. (UPST) . Why not? It seems that the company is a cloud-based AI leading platform. For people who do not want to deal with an overworked and grumpy loan officer, it sounds perfect.
Let's check out the charts.
In this daily bar chart of UPST, below, we can see that after this company went public in December, prices quickly rallied into March and then turned sideways to make a consolidation pattern around the $120 area. Prices took off again on the upside in August and have nearly tripled. Amazing. UPST is trading above the 20-day and 50-day moving averages.
Also, trading volume has been increasing since March, as the word gets out to traders and investors. The daily On-Balance-Volume (OBV) line was steady until early August, and then it really strengthened. The Moving Average Convergence Divergence (MACD) oscillator is clearly bullish.