UPS
Be careful of earning calls..!This is a clear example of earning call effect that can not be calculated or predicted by technical analysis!
There was almost no chance to predict this move base on technical analysis, at least as far as I know. Short (Sell) signal was the most probable scenario yesterday! Today yo see a +10% jump!
Anything in the world has its own limitations! Technical analysis is no exception!
on Sunday I published an analysis for my private followers with the title “walking to unknown” and predicted that there could be no relationship between chart and outcome of the earning call.
You can read that using the link below:
UPS (NYSE) - Be Calm and Do actionGreetings
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UPS (NYSE) - Be Calm and Do action
UPS BULLFLAG PT $178UPS just formed a Bull flag that if broken to the top should propel the stock to around $178. I do see the possibility of this consolidation to the lower end of the channel which would be $155. If that is broken, we can definitely see UPS work its way down the engulfing candle and find support with a bounce around $145. There is also a MASSIVE gap that needs to be filled around $124 and 134. Manage risk