It’s the holidays and we all love getting our packages on time. One outfit that delivers our goodies is United Parcel Service (UPS). And from my account, they do a pretty good job. BUT perception isn’t always reality in the world of investing.
And this is why I follow price, and more specifically, chart price patterns.
Right now, UPS stock is at an interesting juncture. After gapping down in late October, UPS stock price carved out a potential topping formation and currently rests on its uptrend line from 2009.
This is a big deal. If UPS stock can hold the trend line and accelerate higher, then all is good. But if it breaks lower, then all bets are off. Keep an eye on this pattern formation because it could spell trouble for longer term bulls.
UPS Stock Chart (2009-2015)
Thanks for reading.
Twitter: @BartsCharts
Author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
