United Parcel Service Inc., Elliott Wave Technical Analysis

United Parcel Service Inc., (UPS): Daily Chart 16 August 23

UPS Stock Market Analysis: I changed the previous count to allow for a triangle in wave {b}, which is still forecasting additional downside into wave {c}. There is also a possibility we are in a higher degree wave (4) paring up with the 2020 wave (2).

UPS Elliott Wave Count: Wave {c} of 2.  

UPS Technical Indicators: Below all averages.

UPS Trading Strategy: Looking for longs on the way down into 136$ wave {c} target.  

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United Parcel Service Inc.,   UPS: 4-hour Chart 16 August 23

United Parcel Service Inc., Elliott Wave Technical Analysis
UPS Stock Market Analysis: Looking for five waves to unfold into wave {c}. Invalidaiton stands at  193$ and we are now looking for acceleration lower into wave iii of (iii).

UPS Elliott Wave count:  Wave (iii) of {c}.  

UPS Technical Indicators: Below all averages

UPS Trading Strategy: Looking for shorts with invalidation at 193$.

(Click on image to enlarge)

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