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Fan Yang

United Parcel Service (UPS) To Test Key Resistance

The United Parcel Service $UPS has recovered nicely since its 2018 consolidation/correction. UPS share price peaked around $135 in early 2018 and dropped to about by the end of the year $90 before rebounding. Since then the recovery has been persistent, and price is back near the high of that late-2018 dip.

UPS Daily Chart

(click to enlarge)

- If price pulls up to $117, it would be back to the high in November/December.
- This is where the latest bearish swing started, and should therefore be a resistance factor now.
- Also note the falling trendline.
- We should therefore expect some resistance here in the $116-$117 area.  
- If price closes above $117.50 next week, I would anticipate upside towards the next resistance around $124-$125. 

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