United Parcel Service started delivering new highs in the summer of 2020. Now the chart could be interesting again after an eight-month pause.
First, notice the bullish gap after the last quarterly report on October 26. Earnings, revenue and guidance all surprised to the upside as CEO Carol Tome (installed last year) continues to execute her turnaround plan.
UPS pulled back after the surge. It tested and held its 200-day simple moving average (SMA), then reclaimed the 50-day SMA.
Price formed a downward-sloping trendline in the process, which it broke on Friday.
Next, the 8-day exponential moving average (EMA) recently pushed above the 21-day EMA. That’s a potential sign of the shorter-term trend growing more bullish.
Stepping back to the weekly chart, a high basing pattern appears with UPS making higher lows in June and late November. Santa also left a bullish outside candle under the tree.
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This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.
First, notice the bullish gap after the last quarterly report on October 26. Earnings, revenue and guidance all surprised to the upside as CEO Carol Tome (installed last year) continues to execute her turnaround plan.
UPS pulled back after the surge. It tested and held its 200-day simple moving average (SMA), then reclaimed the 50-day SMA.
Price formed a downward-sloping trendline in the process, which it broke on Friday.
Next, the 8-day exponential moving average (EMA) recently pushed above the 21-day EMA. That’s a potential sign of the shorter-term trend growing more bullish.
Stepping back to the weekly chart, a high basing pattern appears with UPS making higher lows in June and late November. Santa also left a bullish outside candle under the tree.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.