Upstart Stock Price (NASDAQ: UPST) surges approx 17% in a single day and hit a 52-week high. UPST stock is in a strong uptrend and rising upward by forming higher high candles.
Upstart Holdings stock sustained above the 50-day and 200-day showcase positional trend in an upward direction. EMAs displayed a golden crossover which further boosted the confidence of investors.
UPST stock price rose by 388% on a YTD basis and rewarded the expectations of long-term investors. The buying volume also increases denoting that some genuine investors have accumulated from lower levels. It shows that the rally is fueled by genuine buying and prices are likely to hold the higher levels.
In the mid of May, Upstart Stock price took a U-turn from the support and breakout of the $20.00 hurdle. Later, prices gained momentum and rallied 200% in a short span of time.
Meanwhile, sellers once tried to reject the price from the $40.00 level but due to the strong presence of prices showing a sharp bounce.
Upstart stock price closed the previous sessions at $62.99 with an intraday rise of 17.43%. The market capitalization stands at $5.21 Billion.
Will Upstart Stock continue the momentum?
Upstart Stock Price prediction remains bullish for the long term. However, the prices rallied a lot in the past few months and look mildly overstretched. So, short-term correction may trigger anytime, dragging the prices to the 50-day EMA.
The support levels in the UPST stock will be in the range of $40.00 to $50.00. Any short-term downfall is expected to respect the support levels and the probability of a bounce remains high.
On the other hand, if the prices hold the $60.00 level then more upward momentum is possible and prices might reach $70.00.
UPST Stock bullish on multiple time frame
UPST Stock Price is bullish on monthly, weekly, and daily time frames. The positive momentum is intact and no signs of weakness are visible. The super trend indicates till prices sustained above $45.00 it is likely to remain in uptrend.
The MACD curve sloping upward and displaying a positive crossover indicates bullish momentum might continue. The RSI at 78 near the overbought territory due short-term correction might trigger any time.
Conclusion
Upstart Stock Price (NASDAQ: UPST) surges 17% and hits a 52-week high. UPST stock price looks mildly overstretched. Therefore, short-term correction or consolidation is possible before deciding further direction.
Technical levels
- Resistance levels: $71.00 and $80.00
- Support levels: $50.00 and $40.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/07/26/upstart-stock-price-shot-up-17-upst-stock-hit-52-week-high/