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- 1 UPS stock price is below the key moving averages.
- 2 United Parcel Service stock recently broke a symmetrical triangle on the weekly time frame showcasing bearishness.
UPS stock price has been facing strong bearish pressure on the daily technical charts for a prolonged time, as it is below the 100 and 200-day EMAs. The stock failed to break above its key resistance levels near the EMAs in the past few months, despite several attempts by the buyers.
UPS stock price prediction suggests that the stock is in the firm grip of the bears and needs to show signs of reversal before confirming a bullish trend.
The stock is currently near $155.30, with a marginal loss of 0.16% intraday. The stock has a potential upside target of $175, but it needs to overcome the bearish momentum and surge above the 200-day EMA. The stock has a support level of $150, which could prevent further downside.
Technical indicators favor the bears projecting a pessimistic perspective for the buyers. RSI and stochastic RSI oscillator are near the overbought zone, whereas the major EMA lines are acting as barrier points for United Parcel Service stock.
The company’s performance has been dismal throughout the year. It has suffered negative returns of 10.89% in the year-to-date period, 18.69% in the last six months, 3.90% in the last month, and a nominal gain of 0.58% in the last week. This shows a persistent bearish trend that has not reversed yet.
Technical Analysis of UPS Stock Price in 1-D Time Frame
UPS stock (NASDAQ: United Parcel Service) is under the 50 and 200-day daily moving averages, which are not upholding the price trend as of now.
The current value of RSI is 40.49 points. The 14 SMA is above the median line at 33.22 points which indicates that the UPS stock is bearish.
The MACD line at -2.76 and the signal line at -3.52 are below the zero line. A bullish crossover is observed in the MACD indicator which signals mild strength in the United Parcel Service stock price.
Weekly-Time Horizon Analysis of UPS Stock
The weekly charts of UPS stock reveal that the sellers have been dominant. The stock has been on a downtrend as it broke below the key EMAs. Technical indicators confirm the bearish sentiment, as the RSI is near the oversold zone at 34 while the MACD formed red bars and a bearish crossover. These signals indicate that the stock may face more negative pressure in the coming weeks.
Summary
UPS stock technical oscillators also support the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the United Parcel Service stock price. UPS price action suggests that the investors and traders are bearish on the 1-day time frame. The price action reflects a bearish perspective at the moment.
Technical Levels
Support Levels: $150.57 and $140.00
Resistance Levels: $157.24 and $162.80
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
