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- United Parcel Services (UPS) lost 1.21% in price on Friday.
- Buyers were disappointed again as UPS stock price failed to move above the 20-day moving average.
- The RSI indicator is once again turning oversold in the context of the daily price chart.
UPS- United Parcel Services- is a well known American multinational supply chain management company. The main objective of this company is to ship and receive products from all over the world. UPS is growing slowly and so is its revenue. In 2021, UPS Company’s annual earnings reached $97.29 billion in USDT, making it the largest courier company in the world by its amazing revenue.
Despite the high revenue so far, UPS stock price is not performing well on the technical price chart. Technical analysis shows a slowdown in stock prices as prices continue to move lower in 2022. However, the company’s revenue is increasing year after year. Total earnings in USD were $85 billion in 2020, further reaching $97.29 billion in 2021.
Investors have been riding the roller-coaster ride since last year. Thus the price structure reflects higher-lows formation in daily as well as weekly time frames. Inteade bearish price pattern, investors became the victim of a scary bloodbath in the last few weeks and this selling has not stopped yet. Bears are looking aggressive for more sell-off in upcoming trading sessions.
In the midst of a sharp fall, UPS stock price moved all the significant moving averages like 20,50,100 and 200 in terms of the daily price chart. Now the 20 DMA stood to be a key selling zone of bears and on weekend they denied higher price momentum of UPS stock one more time.
On the weekend, the UPS stock price closed at $161.68 mark along with a 1.21% drop on Friday. Therefore, the RSI indicator once again turns down into the oversold zone in terms of the daily price chart. Notably, MACD observes a deep low in the negative region but recently buyers saw a bullish crossover.
Conclusion
The UPS stock price (United Parcel Services Inc) is extremely bearish and trades close to annual bottom level. Only MACD shows positive signs as it reflects bullish crossover.
Support level – $150 and $100
Resistance level – $180 and $200
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
