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UPST Stock Analysis – Powering Higher Baby!

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All right, welcome to another stock spotlight where we take a look at certain specific tickers that are worth talking about, discussing, or making some movements. In today’s episode, we’re going to take a look at UPST. This stock is powering higher quite a bit and pushing to the upside.

Now, if you take a look right now at this moment, the stock’s at 53.32, up about six bucks, which is pretty big. Huh? Then we get Square up four percent, PayPal up one percent or so, American Express and JPMorgan up about two percent. So you can see some of the financials are powering a little bit higher today if we kind of look at those kinds of things. But let’s check out this UPST.

Monthly Chart Analysis

So, from a monthly standpoint, the stock seems a little bit scary, right? Because we were in the 400 level, probably overbought, a little bit too high, too fast, too soon. And then the stock kind of sizzled away after this pandemic kind of concept or the AI Buzz a little bit more got into some of these lower levels, and then the stock started to base, which is pretty good and normal and healthy that it started to base. But it was right around that 11, 12 bucks.

So here’s our main support level right a little bit above that 10 range, so about 12 bucks. And then we had a nice little breakout here recently, right around May, so it started to power higher. Now, will it get back to 400? I mean, maybe. I don’t know how many years it would take, but it may be.

But it’s, you know, in the short term, in my lifetime, I don’t know. Maybe, but it’s got a tough road ahead of it because now we’re over here. We were overbought. Now we’re probably a little oversold. But now we’re getting into a short-term overbought area too because you’re going to have some resistance levels. So there’s a lot of overhead supply.

As this stock comes higher, people over in this areas are as it’s coming back, they’re going to say, “Oh, thank God, I can get out,” and then they’ll push that stock lower because they’ll sell it. They’ll say, “Oh, a good thing I can get out of it.” So that’s what’s going to end up happening is that with time, as this powers higher, there will be people that will eventually try to get out of it.

Short-Term Basis: A to B, B to C, C to D Pattern

If the stock or the company does some fantastic things, that could eventually yield to some more positive note here and it could get into that level. But again, 200, I think, is going to be a little bit tough past the 200 level. So from a short-term basis, if we look at what’s happening, we can look at the A to B, B to C, C to D pattern. So there is an ABC, and D, and we’re kind of getting into that D Zone.

Initially, that volume was really nice and that looked pretty good. Now we have that volume that’s a little bit subsiding, so I think it is losing a little bit of steam here. I’m not saying it can’t go higher than this, but I’m just saying we’re losing a little bit of that steam because at the beginning, we had much more volume coming in. And when you had more volume coming in, that’s great. But now I think we’re starting to see, “Okay, well, the stock has moved pretty well from like 10 to now 50.”

So that’s a big run-up for a stock overall. Certain people sat in it and waited and hey, they’re getting paid at least there. Or maybe you’re coming back a little bit. Maybe you bought somewhere around the 80s, and now you’re in the 50s. So overall, the stock seems to be doing okay. I wouldn’t really chase it here because it’s been a little bit of a troublesome company.

What I would do is wait for a possible pullback. If you start seeing a pullback and then a bounce, that could be more like, “Hey, a nibbling opportunity” or “Getting an opportunity” in those spots. But would I chase it way up here? No, the run was from 12 to like 53. Why would you chase something? Instead, let it come to you. Set up an alert. Set up a trigger to buy that stock maybe around that 40 range, and if it comes back and then it bounces, that could be a better spot.

Resistance Levels and Future Outlook

So other than that, you’re going to have some trouble around that 150, 160 range. You’ll still have some trouble around 130, and of course, the 100 zone as well will have some trouble spots right here because this was a big spot where there were a lot of trades that were happening in this area.

So even if it gets to 100, which is double the price now, which would still be fantastic, I think that would still be difficult to get there, but then you’re still going to have some trouble. So anyway, it will be a long road ahead for the time being.

Stock’s doing well, it could continue to push into higher prices, but be mindful, be careful. It’s not going to run up forever. You will have some pullbacks, just like you had a pullback here in this run-up. You’ll get those more of those to come, especially as the stock balances out and some of the hype will fizzle with time.

Conclusion

Anyway, I hope that helps. Truly appreciate you sticking with me. If you want to learn more about, let’s say, trading options or looking at some of the webinars we have, we have a website specifically for that, that’s absolutely free.

Check out tradingwebinars.com. There’s much more information on there, and you can watch some great training videos and how to continue to grow your knowledge and education. Thanks for joining me, and I will see you in the next video. Take care.

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