UPS closes within previous day's range

United Parcel Service (UPS) Technical Analysis Report for Sep 14, 2018

Highlights

UPS closes above its opening price after recovering from early selling pressure
UPS unable to break through key resistance level
UPS finds buyers again around 119.01
UPS closes within previous day's range
UPS ends the day indecisive

TQ Sentiment

Report Sentiment: 40% Bullish
Technical Forecast:

Overview

UPS ended the week -2.11% lower at 120.39 after gaining $0.69 (0.58%) today on high volume. Trading up to $1.29 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for UPS

Volatility

Friday's trading range was $1.85 (1.54%), that's slightly above last trading month's daily average range of $1.64. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly below average.

Support/Resistance

Unable to break through the key technical resistance level at 120.68, the share closed below it after spiking as high as 120.86 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After having been unable to move lower than 119.06 in the prior session, the market found buyers again around the same price level today at 119.01.

Trend

Though United Parcel is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.

Order Flow

Further selling could move prices lower should the market test August's close-by low at 117.72.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for United Parcel Service

Loading Market Conditions for $UPS (United Parcel Service)...
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when United Parcel Service traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Stocks

AAL 10 day candlestick chart for AAL 43.60 1.71 (4.08%)
AAXN 10 day candlestick chart for AAXN 64.79 -0.67 (-1.02%)
ACM 10 day candlestick chart for ACM 33.03 0.02 (0.06%)
ADP 10 day candlestick chart for ADP 150.68 1.80 (1.21%)
ADT 10 day candlestick chart for ADT 9.37 0.45 (5.04%)
AGCO 10 day candlestick chart for AGCO 60.24 -0.89 (-1.46%)
AIT 10 day candlestick chart for AIT 81.15 0.10 (0.12%)
AL 10 day candlestick chart for AL 46.15 0.30 (0.65%)
ALK 10 day candlestick chart for ALK 70.08 0.33 (0.47%)
ALLE 10 day candlestick chart for ALLE 90.07 -0.84 (-0.92%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!