The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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United Parcel Service (UPS) Technical Analysis

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Summary:
Weekly :Overbought sector
Daily :The price has fallen below the Parabolic SAR
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It was the negative week for the United Parcel Service (UPS). During the week, the UPS gave back -0.59 points, or -0.38%, and closed at 153.37 on Friday, March 15, 2024. UPS was trading at average weekly trading volume.

UPS is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See UPS long-term trend chart]
A long-term downtrend had started on February 1, 2022 at 233.72 and reached 133.68 on October 27, 2023. UPS lost 100.04 points, or 42.80%, in 90 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 129.40 and resistance is at 181.17. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.

Medium-term trend: [See UPS medium-term trend chart]
A medium-term downtrend had started on April 20, 2023 at 197.80 and reached 133.68 on October 27, 2023. UPS lost 64.12 points, or 32.42%, in 27 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 106.62 and resistance is at 180.97. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See UPS weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 1, 2023. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See UPS short-term trend chart]
A short-term uptrend had started on February 5, 2024 at 138.90 and reached 158.91 on March 13, 2024. UPS gained -20.01 points, or -14.41%, in 37 days. The price is now at the 27.69% retracement level.

Daily Technical Indicators: [See UPS daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since February 14, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.07
Williams' Percentage Range (W%R) 39.20
Lane's Stochastic (%D-Slow) 70.49
Greed/Fear Indicator (GFI) 66.12
Moving Average Converg./Diverg. (MACD) 0.69
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.03
Williams' Percentage Range (W%R) 34.50
Lane's Stochastic (%D-Slow) 47.45
Greed/Fear Indicator (GFI) 52.90
Moving Average Converg./Diverg. (MACD) -4.32
Trading Signals
Description Value Chart
Yearly Trendline Resistance 181.17
Quarterly Trendline Resistance 180.97
Parabolic System 158.94
Upper Bollinger Band 157.65
Daily Stochastic Crossing 155.88
Price 153.37
50 Day Moving Average 151.78
20 Day Moving Average 150.89
Weekly Stochastic Crossing 150.63
Lower Bollinger Band 145.82
Yearly Trendline Support 129.40
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Air Freight & Logistics 12
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 138.90
Low Date 02/05/2024
High 158.91
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 163.82
High Date 12/18/2023
Low 138.90
Low Date 02/05/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 133.68
Low Date 10/27/2023
High 163.82
High Date 12/18/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 180.97
Support 106.62
High 197.80
High Date 04/20/2023
Low 133.68
Low Date 10/27/2023
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 181.17
Support 129.40
High 233.72
High Date 02/01/2022
Low 133.68
Low Date 10/27/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.