UPS Short Alert: Technical Chart Signals Sell

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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.

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