UPS gapped down after ER and retraced back to .618 level and have been consolidating since. We forming a bull pennant and setting up for a mean reversion to the upside with a target of 200.50. We are also forming a TTM Squeeze on 4H, 2H, 1H and 15M. Gap fill potential if the squeeze fires. Average post squeeze run is about $8 move.
Key Level: 192.70 area to break for a possible target of 195.90.
Contract Suggestion:
BTO UPS 8/20 195C @ 1.10
BTO UPS 8/20 192.5C @ 2.15
Stop loss: Below 190
UPS
Key Level: 192.70 area to break for a possible target of 195.90.
Contract Suggestion:
BTO UPS 8/20 195C @ 1.10
BTO UPS 8/20 192.5C @ 2.15
Stop loss: Below 190
UPS
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Please drop a like & follow so you don't miss any analysis that I post! Greatly appreciate it! Thanks!
Come join our community!
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-Ross Trades
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.