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Calling the top in the shipping industry (UPS, FedEx, STMP)

Short

UNITED PARCEL SERVICE INC (NYSE:UPS)

NYSE:UPS UNITED PARCEL SERVICE INC

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In this video I've shown 3 independent forms of technical analysis that make a strong case that the top is already in for these 3 stocks ! In general, I'm bearish the overall market so wouldn't be surprised to see these correct significantly.

Let me know what you guys think ! Always open to comments and critiques.

Comments

thank you - really appreciate the way you explain your plays.

Almtl

@Almtl, you're welcome !

Thanks for sharing your ideas!

zunajev

@zunajev, glad to help !

Thanks for your 3 independent forms of technical analysis video.

EricKam

@EricKam, most welcome !

What are your thoughts on the action since you posted end of Aug?

bmiller039

@bmiller039, Fedex did end up moving little higher from the time the video was posted but UPS has essentially been flat for a month (when u see it as weekly candles). i had bet against UPS so still holding that position. As far as it goes about FDX, its in a key resistance area so i would be SHOCKED if this 240-250 level is broken. It is extremely overbought and makes for a good short. Of course, thats not investment advice :)
About the 3rd company STMP, its fallen quite a bit so shorting wouldnt make too much sense and i most definitely wouldn't go long right now either so just ignore that stock.