Uber Technologies (UBER) stock price extended its decline in its latest intraday trading, affected by its movement within a short-term corrective bearish price channel that continues to cap its recent trading. Negative pressure persists as the stock trades below its 50-day SMA, which has hindered its recent recovery attempts. Meanwhile, negative signals continue to emerge from the Stochastic indicator after reaching overbought levels.

Therefore we expect the stock price to decline during its upcoming trading sessions, as long as resistance at $78.25 remains intact, targeting the key support level at $69.00.

Todays price forecast: Bearish