Gig Economy here to stay! Buy UPWK
Bull Case:
1. Gig economy not ending anytime soon
2. Beat estimates on the top and bottom lines. Expects revenue in the range of $89 million to $91 million. That was ahead of analyst estimates for $85 million, according to FactSet. Up Guidance.
3. Clear consolidation around $12 and $16, forming a base on a base pattern.
4. Price holding above the 50ma.
Bear Case:
1. While UPWK beat estimates, it still lost money in Q2.
Trade Setup:
buy $15
stop $13.34 (2xATR)
target $18 $20
1. Gig economy not ending anytime soon
2. Beat estimates on the top and bottom lines. Expects revenue in the range of $89 million to $91 million. That was ahead of analyst estimates for $85 million, according to FactSet. Up Guidance.
3. Clear consolidation around $12 and $16, forming a base on a base pattern.
4. Price holding above the 50ma.
Bear Case:
1. While UPWK beat estimates, it still lost money in Q2.
Trade Setup:
buy $15
stop $13.34 (2xATR)
target $18 $20
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