United Parcel Service Shares Still Face Stiff Technical Hurdles

Discussion in 'The Latest UPS Headlines' started by cheryl, Jan 11, 2010.

  1. cheryl

    cheryl I started this. Staff Member

    United Parcel Service Shares Still Face Stiff Technical Hurdles - Schaeffers Research

    UPS shares cleared a key technical hurdle on Friday, breaking out above the round-number 60 level in the wake of the company's improved guidance. The 60 region had provided a ceiling for the equity since early October, and could now provide technical support.

    However, UPS is still staring up at its 150-day moving average (at 62.57), a trendline that has capped the security since November 2007. What's more, the 63 region, which rests just above UPS, is home to a 61.8% Fibonacci retracement level. Clearly, the stock is far from being out of the woods from a technical perspective.