UPS is approaching resistance, potential drop! UPS is approaching our first resistance where we might see a corresponding drop to our first support. Stochastic is also approaching resistance where we might see a corresponding drop in price.
UPAB trade ideas
UPS Approaching Resistance, Potential Reversal UPS is approaching its resistance where a reversal could occur.
UPS reversing off resistance, further potential drop! UPS is reversing off our first resistance at 111.51 where we might see a further drop in price to our major support at 99.22.
Stochastic is also seeing further downside.
UPS approaching resistance, potential drop! UPS is approaching our first resistancce at 111.51 (horizotnal swing high resistance, 78.6% fibonacci retracement, 61.8% fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 103.68 (horizontal pullback support, 38.2% fiboancci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
UPS sets up to be a low-risk short!The market has been in a never-ending buy-the-dip mode lately. With the Fed out of the picture and Trump tweeting about a China trade deal everyday, the stock market has seen very few decliners. Picking shorts has been a losing battle for 8 weeks now. I've found that it's never a good idea to arbitrarily pick tops unless I can give myself a solid technical setup with a decent fundamental reason to do so. In this case, UPS is meeting both of these conditions.
Like many stocks, UPS went into a classical head and shoulders pattern, which it broke down from. It has since retraced all the way back to an important trendline (as it has now tested this trendline 7 times!). On Friday, XPO, another shipping and logistics company reported a bad quarter citing weakness in France and the UK. This news had a heavy read-through to FDX but not as much to UPS (FDX was down 5% on the XPO news at one point). However, UPS has still failed to breakout above the shown trendline and has very little fundamental reason to do so. Although old news, Amazon has entered the shipping space and is now a direct competitor of UPS and FDX. This may be more of a reason to see less upside and more downside from the shipping stocks.
I think we can short UPS here around $111:
Target $104 (neckline of H&S)
Stop: Any close above the drawn trendline
UPS Reversed Off Resistance, Potential Drop!UPS reversed off its resistance at 111.51 (61.8% & 78.6% Fibonacci retracement , horizontal swing high resistance) where it could drop further to its support at 103.68.
Stochastic has also reversed off its resistance.
UPS Reversed Off Its Resistance, Potential Drop!UPS reversed off its resistance at 111.51 (61.8% & 78.6% Fibonacci retracement, horizontal swing high resistance) where it could drop further to its support at 103.68.
Stochastic has also reversed off its resistance.
UPS Approaching Resistance, Potential Reversal!UPS is approaching its resistance at 103.882 (100% Fiboancci extension, 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reversal to its support at 96.91
Stochastic is approaching resistance at 95% as well where a corresponding reversal could occur.
Selling UPS sharesOn the daily chart of UPS shares, the instrument is moving in a steady bearish trend. The Subwave structure shows us that the 5th wave should take place. Thus, I`m going short on the bearish push signal breakdown. Trade levels are displayed on the chart.
Read the rulesRules:
Believe that anything can happen - so stay neutral.
Always define your stop loss. Trade with your own risk.
We trade only when price action shows a "reversal pattern" within our predefined zones = "Trend + Zone + Reversal".
This reversal pattern typically will be seen on a minute chart.
Be patient.
Good luck.
(Will "try" to update if in trade).
UPS potential good shorting opportunityIF this chart pattern plays out it represents a v good short trade opportunity.
Testing 2009 uptrendline and forming a nice looking H+S Top.
Elliott Waves look like an impulse 1-2 and i-i so could be about to go down in a iii of 3 scenario.
Would look to short here with stop above recent wave 2 high or above top right hand shoulder. Target is a lot lower (possible for at least 5:1 r/r over coming weeks/months).
Huge uptrend from UPS or nearest punch from Bears?Potencial short bull trend to the 5 wave with nearest end of first big wave
if the Bull trend cant the beat this peak - 116$-120$, we may to see a long Bear run
in real, i vote 70 vs 30 for nearest Bear around 116$-118$
UPSThis stock has been on an uptrend for a couple years and constantly breaking new highs, it has finally pulled back a large amount and could be preparing to make a new all time high. It could reach resistance then fly up.
Next stop for UPS is 120UPS is in an uptrend since the beginning of May. It should continue higher towards 120 and maybe reach 127.
UPS - making the correction waveThe UPS stock seems it reached it's peak price mid January 2018. Now it is the correction phase. From technical indicators; RSI, Momentum & MACD showing a slow down in price movement. Expect down trend in the coming weeks. First Target to 105
Here's when I'll buy UPSI've wanted in UPS for a while but refused to chase the move higher. Now that we're getting some weakness, I'm eyeing this name for a long-term investment. I'll be a buyer on a test of the breakout level/50% retracement at $86.5. Shorter-term, I expect continued weakness, so there's no need to rush in to this one!
update on upsvery tight in here on the daily chart today but, ended with a green hammer. Can we see some action before Good Friday? I would like to see something that would be something to talk about
