United Parcel Service Inc., Elliott Wave Technical Analysis

United Parcel Service Inc., (NYSE: UPS): Daily Chart, 13 September 2023

UPS Stock Market Analysis: We have been looking for downside ever since the previous forecast where we were anticipating wave iv. As we now stand near a support area we could expect a bounce in what should be wave (iv).

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

UPS Technical Indicators: Below all averages.  

UPS Trading Strategy: Looking for short after the pullback in wave (iv).

Analyst: Alessio Barretta

United Parcel Service Inc., UPS: 4-hour Chart, 13 September 2023

United Parcel Service Inc., Elliott Wave Technical Analysis
UPS Stock Market Analysis: Looking for a pullback as we reached the target for wave (iii) breaking the base channel and reaching 0.618 {c} vs. {a}. We should expect wave (iv) to stay within the upper line of the channel.

UPS Elliott Wave count:  Wave v of (iii).

UPS Technical Indicators: Below all averages, RSI extremely oversold.  

UPS Trading Strategy: Looking for shorts after wave (iv).

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