1. Strong move down followed by price consolidation suggests continuation
2. Strong break followed by consolidation below trend line
3. Finally seems like consolidation pattern has broken down and is creating a flag
Upon flag break I suggest going short
On May 2, 2017, the UPS 100 day moving average (DMA) crossed below its 200 day moving average (DMA). Historically this has occurred 12 times and the stock drops a minimum of 0.531%. The median drop is 2.948% and maximum drop is 7.001% over the next 17 trading days.
When we take a look at other technical indicators, the relative strength index (RSI) is at...
Why I like this stock:
The stock bounced at a very strong support line.
There was a complete change of emotions today, a change of power. ( The bears had control last week and were in power but today with a gap up and with a close for a positive day, the bulls are now in control and have the power. A lot of bears are starting to wonder if the should exit tomorow...
