UPS , massive double topLooks like a pennant but quacks like a doubletop.
UPS trades under the dow jones transportation index or DJT .
I added DJT to this chart (Orange wave) to show the comparison. DJT as you can see is bearish and UPS is moving in its direction slowly.
MACD -Death cross
RSI - downtrend
Selling volume increased heavily.
This is a longterm short play, a fall below trendline would be a double top conformation.
UPS trade ideas
UPS ShortDouble Tops
Breakaway Gap + revisit
OBV<OBV34
Short 211
Stop 220
Target 180
Risk management is much more important than a good entry point.
The max Risk of each plan should be less than 1% of an account.
I am not a PRO trader. I trade option to test my trading plan with small cost.
I created some tradingview scripts to improve my trading entries:
OBV and OBV SMA comparison;
Williams %R two lines;
$UPS Short Idea
UPS has been coiling up within a symmetrical triangle after a earnings gap and go which has made it leave a few liquidity gaps below.
Will most likely have trouble finding any buyers up higher and we can see the momentum is fading via bearish MacD crossover on the daily.
Bear case, UPS goes hunting for liquidity at a lower demand zone before making a new high.
- Daniel Betancourt, OptionsSwing Analyst
UPS SHORT, Fill the GAPUPS touched ATH the other week at $220 and has since then drifted down to, currently, $211. Looks like maybe a falling wedge is shaping up and might push back up to ATH...possibly. However, looking at the Volume Profile, there is extremely Low Volume underneath $210 on the daily. If price were to drop below this area, you could see a significant drop into the GAP around $180-$190. UPS is currently trading much higher than the VPOC around $160 on the daily I personally believe UPS is overextended and is in need of a healthy pullback. Based on the VPOC, Gap, and overextended trend UPS has been on, I am short on this. However, with that said, if price were to break ATH at $220 you could see a significant push higher as well. As always have a trading plan in place and protect your capital.
$UPS with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $UPS after a Positive Under reaction following its earnings release placing the stock in drift A
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Be careful of earning calls..!This is a clear example of earning call effect that can not be calculated or predicted by technical analysis!
There was almost no chance to predict this move base on technical analysis, at least as far as I know. Short (Sell) signal was the most probable scenario yesterday! Today yo see a +10% jump!
Anything in the world has its own limitations! Technical analysis is no exception!
on Sunday I published an analysis for my private followers with the title “walking to unknown” and predicted that there could be no relationship between chart and outcome of the earning call.
You can read that using the link below:
UPS nearing ATHWe're finally back at the top of the range. I'd expect some profit-taking near ATH, so watch for consolidation before another try at ATH. We'll see on Monday how it'll react to that resistance. The weekly chart looks really strong though, so I'd like it to get near ATH and retrace for an entry.