I'm trying to understand how the price chart of a stock can be used to speculate on the price range in the coming weeks, months or years.
Looking at the price of a stock like UBER, there is a pattern that shows from September onwards, the price is going up and then goes down every month. Now in December 2019, the price is at a peak point and if I speculate on a chart like this, the price can go down in the next month. It is hard to speculate when there will be bounce and how many months the stock will take to reach the high value of $46.
Other than some optimistic news from the company, what data can be researched to raise the probability of an outcome that can say the price will rebound and will go above $35.