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- 1 UPS stock price fell 10% in the current month and formed a bearish pattern.
- 2 United Parcel Service stock price (NYSE: UPS) hits a 52-week low.
- 3 UPS stock price trading below the 50-day and 200-day EMA.
UPS stock price is down by 10% in September and continues to fall by forming lower low swings. It broke down the crucial support of $160.00 which triggered the negative sentiment and invited further decline.
United Parcel stock price is trading below the 50-day and 200-day EMA showcasing a downtrend. However, the price looks oversold and trading far away from EMA so a short-term pullback rally is possible.
In July, UPS’s stock price tried to break the $190.00 hurdle. But unfortunately, the attempt failed and prices faced strong rejection from the higher levels. Later, prices began to decline and eroded the complete gains generated in 2023.
The price pattern of the stock is highly bearish. So if the pullback comes, it may face difficulty to hold higher levels. On the higher side, $160.00 is likely to act as an immediate hurdle for the bulls.
UPS share price has corrected a lot so investors are expecting some sort of consolidation for base formation.
United Parcel’s stock price closed the previous session at $152.41 with an intraday rise of 0.34%. The market capitalization stands at $130.23 Billion.
Will UPS Stock Price Downfall Halt Near $150?
UPS stock price is in a correction phase. The sellers look more active as compared to buyers. However, the price is near the strong support zone so the risk of a short squeeze is also high.
Till United Parcel stock price holds $150.00 support it will be risky to create further shorts. The analysis shows that prices are near the multi-year low so a downfall might take a halt and an upside reversal is possible.
On the other hand, if the situation gets worse and prices slip below $150.00. Then more downside will open which may raise concern for the long-term investors.
United Parcel Stock Price Analysis
United Parcel stock price is forming a bearish pattern on a daily, weekly, and monthly time frame.
Meanwhile, the broader market indices are turning bearish and supply chain management sector stocks are inside sellers radar. Due, to this UPS stock price is indirectly affected.
The MACD slopes downward but price action shows bear losing the momentum. The RSI at 25 denotes highly oversold territory so a relief rally may trigger anytime from the lower levels.
Conclusion
UPS stock price was down by 10% in September and eroded a big portion of the market capitalization. The technical analysis suggests that the United Parcel stock price is near the multi-year low so the downfall may take a halt.
Technical levels
- Resistance levels: $160.00 and $173.00
- Support levels: $146.00 and $140.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
