UPS Short Alert: Technical Chart Signals Sell

By Gareth Soloway of In the Money Stocks

President & Chief Market Strategist at IntheMoneyStocks • May 3, 2021 at 6:21 PM EDT

Shares of United Parcel Service Inc surged in the past week, jumping from $175.00 to over $213.00. This epic surge has the stock up over 166% from the March 2020 lows.

black android smartphone turned on screen

Shares of United Parcel Service Inc (UPS) surged in the past week, jumping from $175.00 to over $213.00. This epic surge has the stock up over 166% from the March 2020 lows. UPS is a major sell alert based on technical factors of near-term overbought, with the RSI at 84.25. The biggest factor is a trend line that connects through the 2008 lows to the 2012 highs and 2013 highs. That trend line extends all the way to the current highs just tagged today. This will likely be a powerful resistance point and cause a retracement on the stock back to a $180 target price near-term.

Disclaimer:

All comments made by InTheMoneyStocks, LLC and its subsidiaries, instructors, and representatives are for educational and informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. InTheMoneyStocks, LLC and its representatives assume no responsibility for your trading and investment results. All information on the website was obtained from sources believed to be reliable., but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. InTheMoneyStocks, LLC, its employees, representatives and affiliated individuals may have a position or effect transactions in the securities herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves a very high degree of risk. Futures and Options trading are not suitable for all investors. Past results are not indicative of future results. InTheMoneyStocks, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment results.