brianweber
Long

Keep an eye on UPS for a bullish play

NYSE:UPS   UNITED PARCEL SERVICE, INC. COMMON STOCK
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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