Upstart Holdings (UPST) Price Forecast: Breakout Signals Trend Reversal

Upstart Holdings , Inc. (UPST) is a financial technology company that uses artificial intelligence to more efficiently connect loan applicants with lending partners. Its stock triggered a bullish trend reversal from a long-term downtrend on Monday by breaking out of a symmetrical triangle pattern after reclaiming key moving averages and breaking above a downtrend line. Further upside followed, as the breakout gained confirmation on Wednesday with a rise above the prior swing high of $35.80 that marked the top of the triangle formation. A 20-week high of $36.90 was reached on Wednesday, further confirming the breakout and the beginning of a potential new uptrend, as a higher swing high was established. UPST daily chart shows bullish trend reversal on a breakout of a symmetrical triangle. Source: TradingView This week’s bullish behavior follows an initial reversal signal that occurred after the trend low of $23.97 was reached in March. That low completed a 75.2% decline from the February peak of $96.43. In April, a one-week advance of approximately 26.8%, reaching a high of $35.80 on the highest weekly volume in nine-weeks, signaled renewed and broadening buyer interest and hinted at a possible bottom in the bearish correct...