Keep an eye on UPS for a bullish play

UPS is trading right down to the 200 day SMA on the daily time frame. Look to play the bounce on shorter term trades.

I am looking to go long after we consolidate a week or two between the $112-$113 area with some longer term options.

Here is the weekly chart below. The 100 day SMA is also approaching the green box :)

If the trade doesn't work off the 100 day SMA , I will try the 200 day SMA on the weekly time frame.
Comment: Will continue to watch for a bounce off the 100 day SMA on weekly time frame. If not, we are probably going back to the 200 day SMA on weekly time frame or the support at $102.62.
Comment: Should have played a bracket trade on February 7th's candle :D
Good luck. I'm seeing a failed breakout and a huge gap and that would make me very cautious. It could bounce but will it try another breakout after such a miserable failure? Thank you for posting.
+1 Reply
brianweber IllusionsCatcher
@IllusionsCatcher, not a problem. I will continue to watch to see where she bounces
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