Signal Says Rideshare Stock Could Pick Up Fresh Highs

UBER's recent peaks comes amid low volatility

Laura McCandless

Deputy Editor

Mar 25, 2024 at 3:01 PM

UBER

Up 30% since the start of the year, Uber Technologies Inc (NYSE:UBER) stock isn't trading too far from its March 4 record high of $82.14. Last seen at $80.22, UBER is seeing minimal price movement in today's session. However, there is reason to believe the stock could continue higher, given its setup.

Uber stock's recent highs come amid historically low implied volatility (IV), as its Schaeffer's Volatility Index (SVI) of 32% ranks in the low 6th percentile of its annual range.

According to Schaeffer's Senior Quantitative Analyst Rocky White, UBER seen five signals over the past five years when it was trading within 2% of its 52-week high, while its SVI sat in the 20th percentile of its annual range or lower, as is currently the case. The stock was higher one month later after 80% of these signals, averaging an 6.8% gain. A move of similar magnitude would overtake the stock's current all-time highs.

UBER March 25

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.