November 19, 2020, 3:47 pm EST
2020 Actual Trade: UPWK +103% Profits
As mentioned in our September 26 article (gold member): Upwork Is Ready to Rock (UPWK) where we outlined the reason to consider watching and buying into UPWK both from fundamental and technical perspectives. Another article November 5, Up, Up and Work, we witnessed its rocket power shooting up +43% in one day. Thus, it concluded triple digits profits +103% within about 6 weeks. Here are highlights:
- Noticing outstanding performance from similar competitor FVRR for its online tech services business model
- May breaking out from 10 to 12 was important hint for its upside potential with outstanding volume
- Two cascades rectangle bases during May-June and June – September were another evidence that accumulation patterns were clearly visible.
- Resistance 17 is established so it is a waiting time for its triggering event
- 09/29 was the day crossing over 17 bar and begins its upside journey
- Although there were a minor pullback to 18 but it never went below 17 since 09/29
- Power gap-up and straight up actions does not allow any late comers into the game after 09/29
- It finished with +103% profits in about 6 weeks for UPWK
