(PRO Views is exclusive to PRO subscribers and gives you insight into the day’s news straight from real investment pros. See the full discussion above.) New York Stock Exchange insider Jay Woods is eyeing this week’s Uber Technologies earnings report, which could drive the stock higher. Uber is scheduled to report first-quarter results before the opening bell on Wednesday. Shares closed Friday afternoon at $75.12. Woods, chief market strategist at Freedom Capital Markets, believes investors should buy the stock if the stock has strong support around the $70 to $72 level and the ride-hailing service trades in that region. “Uber is in a neutral situation, but it has broken its recent downtrend,” Woods said. “There’s support at $70, $72. It looks like strong support.” He added: “So we think Uber should be bought on any dip. And on the upside, if we can get above $78, this stock is about to make a U-turn and should be smooth sailing to its 200-day moving average of $85.” Uber’s stock had been declining for six straight months through April, but has rebounded nearly 4%. (Watch the full video above.) In his exclusive video, Woods also discusses: How he sees whether the S&P 500 can continue to rise in May despite some disruption ahead. Why is he also paying attention to Palantir Technologies, and why is that stock currently “in his crosshairs”? (This weekly Monday video is exclusive to CNBC PRO subscribers.)
