Reflecting on 2024, Uber Technologies (UBER) was one of our more asked-about stocks. Despite seemingly having buy-in from investors, the stock failed to deliver strong returns. However, in the first days of 2025, UBER has emerged as a top ten performer in the S & P 500, perhaps ushering in a new phase of outperformance. The shift is notable because the major indices have overbought downturns that contrast with UBER’s oversold upturn. The weekly bar chart of UBER reveals a year-long trading range, with a correction having generated oversold conditions near year-end. In December, the DeMARK Indicators signaled downside exhaustion, denoted by the green arrow. Historically, signals from the same model have been timely, so we see this as an enhancement of the oversold upturn in the weekly stochastic oscillator. Downside momentum has alleviated from an intermediate-term perspective, evident in the weekly MACD histogram. This supports a more substantial rally for UBER within the context of its trading range. The range is bound by strong support in the $60-$61 area, defined in part by the weekly cloud model (shaded area on the chart), and resistance well above current levels at previous highs near $82. Support is enhanced by a former resistance level from 2021, where UBER has found a footing since its breakout in early 2024. We want to see this key level hold to preserve the bullish intermediate-term setup, noting that UBER has suffered a loss of long-term momentum, with the monthly MACD having logged a bearish crossover. The range has allowed UBER to absorb long-term overbought conditions, but the monthly stochastics still point lower, warranting a stop-loss discipline. We understand the allure of lagging stock, especially when the market’s leadership appears to be faltering. Whether or not a significant correction unfolds, UBER appears positioned for outperformance in Q1, as its relative strength ratio versus the S & P 500 has oversold indications of its own. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. 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