Deftsuo
Long

Bullish S/R flip and DMA Golden Cross on UPS.

NYSE:UPS   UNITED PARCEL SERVICE INC
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.


Trade closed: stop reached
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