Shares of Uber Technologies Inc (UBER) are breaking above resistance. The ride-sharing company was kept artificially low into year-end because of tax-loss selling. This is where investors sell their few losers to offset major profits, thus paying a lower tax bill. This creates heavy selling pressure into year-end but also means there are very few sellers in January. The stock was up over $1.00 yesterday (the first trading day of the new year) and nicely green on the second (with markets slammed). Look for upside on Uber Technologies to $34.00 then $36.00 in the near term The current price of UBER is $31.11.
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