UiPath: Gap Fill to the Upside?
UiPath fell sharply in the spring after its CEO stepped down, but now some traders may look for a rebound.
The first pattern on today’s chart is the bearish gap on May 30. The AI and automation stock ended yesterday inside that zone. Could prices fill the gap to the upside?
Second, PATH is above its 50- and 100-day simple moving averages. That may suggest its longer-term trend is trying to reverse upward.
Third, this year’s low of $10.37 near the trough in 2022 may confirm that support is in place.
Next, prices have cleared a falling trendline along the peaks of September and October. The lower study with our 2 MA Ratio also shows the 8-day exponential moving average (EMA) has crossed above the 21-day EMA. Those points may suggest that its short-term trend has gotten more bullish.
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The first pattern on today’s chart is the bearish gap on May 30. The AI and automation stock ended yesterday inside that zone. Could prices fill the gap to the upside?
Second, PATH is above its 50- and 100-day simple moving averages. That may suggest its longer-term trend is trying to reverse upward.
Third, this year’s low of $10.37 near the trough in 2022 may confirm that support is in place.
Next, prices have cleared a falling trendline along the peaks of September and October. The lower study with our 2 MA Ratio also shows the 8-day exponential moving average (EMA) has crossed above the 21-day EMA. Those points may suggest that its short-term trend has gotten more bullish.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. If you're born to trade, we could be for you. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit https://www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.
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