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- 1 UPS stock price may rebound from the current level of support zone.
- 2 UPS shares declined on Friday’s trading session and may retrace on Monday.
- 3 United Parcel Service, Inc. (NYSE: UPS) is an American multinational shipping & receiving and supply chain management company.
UPS stock price slipped on Friday and may rebound on Monday’s trading session from the support zone over the daily time frame chart. Experts hailing from a reputable financial institution propose the possibility of an upward recovery of UPS share price, potentially retracing its rebound towards the $190 threshold.
Nevertheless, UPS shares could face obstacles as they navigate this trajectory, with potential interference from sellers seeking to capitalize on shorting opportunities along the way. In the meantime, it is imperative for the UPS stock price to regain its position above the 20, 50, 100, and 200-days daily moving averages.
UPS stock price was at $176.62 and lost 2.08% of its market capitalization on Frieday with below average trading volume. If buyers accumulate at a significant rate on Monday’s trading session then UPS share price may register a strong recovery over the daily time frame chart.
Will UPS Stock Price Reach $190 Mark?
UPS stock price has been declining since July 28th and declined till the current level but tried to sustain on 9th and 10th august but failed and slumped again on Friday’s trading session. This demonstrates that the current level may provide support to UPS shares for its recovery over the daily time frame chart. Meanwhile, UPS share price is trading below 20, 50, 100 and 200-days daily moving average.
Over the past week, the value of UPS stock price declined by approximately 3.03%. The stock declined 5.59% within the month. Despite this, UPS shares made an effort to attain a 4.44% increase over the preceding three months, only to encounter another setback of around 3.72% over the last six months. Concurrently, the UPS share price managed to record a growth of 1.35% year-to-date.
Technical indicators point to the declining momentum of UPS shares. Relative strength index and moving average convergence divergence both confirm the fall of UPS stock.
RSI was at 38 and is heading towards the oversold territory. The MACD line is below the signal line after a negative crossover. Investors in United Parcel Service, Inc. need to wait for a directional change over the daily time frame chart.
Summary
The daily time frame chart for UPS shows that the stock price declined on Friday but may recover from the support area in Monday’s trading session. The share price of UPS is now below the 20, 50, 100, and 200-day daily moving averages. Meanwhile, the share price of UPS has increased by 1.35% so far this year. Technical indicators show that the momentum of UPS shares is falling. Investors in United Parcel Service, Inc. should watch the daily time frame chart for any directional changes.
Technical Levels
Support Levels: $175.50 and $174.70
Resistance Levels: $182.30 and $190.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock 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.
