RS3175

Down Weeks Ahead for UPS

Short
BATS:UPS   United Parcel Service, Inc.
Weekly chart of UPS

UPS in the third impulse wave of its Corrective Wave (red coloured wave). However, we are only half-way into the third impulse corrective wave.

UPS had a support at 155 level, which it lost yesterday.

UPS is below 50 and 200 SMAs.

During the third impulse wave of the Motive Wave (green coloured wave), UPS made a large gap from 125 to 135. There is a support just below this region. That's where UPS is likely to stop its current downtrend.

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