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