April 29 Chart of the Day - UPS
Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.
United Parcel Service (UPS) may have posted an earnings beat, but price action tells a different story — one that fundamentalists often miss. Despite the headline numbers, the market’s muted reaction suggests traders are continue to see signs that management may not be openly addressing.
As selling pressure remains relentless, the charts point to a potential date with the $80 level — a reality that price action traders spotted long before the earnings headlines hit.
Let’s take a price action technical analysis look the chart to see where price could be heading next.
Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.
When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.
As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.
Since May 2023, we've showcased over 500+ Charts of the Day and provide FREE Price Action Trading education to traders who join our highly rated Trade Room.
Monthly Chart
On the monthly chart, we can see where price reached its all time high of $233.72 in early 2022 before pulling back sharply and essentially still searching for a bottom.
That retreat had both investors and traders closely watching key support levels, which have held for now, as price seemingly has a decision to make regarding its next move.
This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.
Weekly Chart
On the weekly chart, we see the relentless selling press during the past three years with price making a series of lower lows and lower highs /aka/ a down trend.
If price continues this downtrend there is a potential bounce zone in the $75 to $80 area. This could be the last shot for the bulls to step in and take over.
Why then when a company makes ATHs can price quickly drop back down?
For a variety of reasons including maybe this was a case of traders and investors taking some profits off the table.
It goes without saying though, the only guarantee in the markets is that price cycles. It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.
Only time will tell for sure what price will do next...
We’ve combined advanced Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.
With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
Because You Were Interested in today's FREE Chart of the Day...
You may also be interested in these other FREE resources!
- Struggling with Market Uncertainty? Here’s How to Trade with Clarity & Confidence with ChartPros NeuroTrading
- Free Guide: 6 Fibonacci Types that Create the Most Precise Price Targets and Reversal Zones
