United Parcel Service Inc. (UPS) having previously closed below key support, showing potential weakness.
However, there is significant support below present price levels.
Holding above secondary support, (UPS) is susceptible to recovery over the months ahead.
A weekly settlement above near-term resistance would place (UPS) in a buy signal where gains of 20% would be expected over the next 3 - 5 months.
Inversely, closing below support would elicit a sell signal where losses of 20% would be expected over the same time horizon.
However, there is significant support below present price levels.
Holding above secondary support, (UPS) is susceptible to recovery over the months ahead.
A weekly settlement above near-term resistance would place (UPS) in a buy signal where gains of 20% would be expected over the next 3 - 5 months.
Inversely, closing below support would elicit a sell signal where losses of 20% would be expected over the same time horizon.
Anthony Speciale, founder of Speciale Analysis offers an affordable approach for all traders to grow into their highest potential.