Description
⋅ UPS is hugging the underside of a major fib.
Today after-hours will be an earnings release.
What happens here could mark a turning point.
See if breaks above 158.10 or drops to 150.74.
Highly enthusiastic target above is around $170
Very bad news like FDX might target $139 below.
(Drag DOWN on the price scale to see above/below)
I have no idea of the fundamentals of this corp.
I am presenting only the current technical stance.
Hopefully you know/own UPS and find this helpful.
==================================
Comment
⋅ Plop! Fell thru our first fib, to the next one below stopped the drop 9for now) but no real bounce yet.
We may well fall thru to my target of $139
================================================================================= Comment
⋅ That fib iso trying to hold with a possible double bottom
Zoom in (30s) on the bounce and adding a fib
bounce wave might have finished at the 3.618,
although the 4.236 is the most common wave ender.
Still looking lower at this time.
================================================================================= Comment
⋅ $139 it is, as mentioned, for bear target and nice bounce off it.
Zoom IN (1min) and we see a PERFECT fib-to-fib move Perfect entry, perfect exit, NO drawdown.
===========================================================================================
.