Bullish S/R flip and DMA Golden Cross on UPS.
Updated
UPS is currently building support on top of old resistance around $112 (which confirms the bullish support and resistance flip), and is consolidating in what looks to be a bull flag-like pattern. We also have a daily golden cross (50 day moving average crossing the 200 day moving average) and we could see the momentum continue to carry this stock higher. R/R is pretty good here, but I've had what I thought were good setups turn south pretty quickly (EA and SQ for example), so be cautious and use proper risk management if you decide to take this trade.
Moving average guide (All daily for this post):
50 day moving average in Green.
100 day moving average in Yellow.
200 day moving average in Red.
Entry: 112.30-114.50
Target 1: 118.00
Target 2: 120.60
Target 3: 125.00
SL: 110.50 (below the 50 and 200 day moving averages, and below our support zone at 112.)
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
Moving average guide (All daily for this post):
50 day moving average in Green.
100 day moving average in Yellow.
200 day moving average in Red.
Entry: 112.30-114.50
Target 1: 118.00
Target 2: 120.60
Target 3: 125.00
SL: 110.50 (below the 50 and 200 day moving averages, and below our support zone at 112.)
-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.
Trade closed: stop reached
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