Apr. 9 at 7:11 PM
$UPS Weekly Chart - Is a Bounce on the Horizon?
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$UPS is showing signs of trying to stabilize after a brutal downtrend. Currently trading at
$101.64, it's holding above the 0.236 Fib at
$98.86, but recently got rejected hard at the 0.382 Fib level (
$109.28).
The structure is still showing lower highs, and there's a LOT of action going on at key price levels. The volume profile is screaming strong demand in the
$90.50 -
$98.86 range, while heavy supply lurks overhead, from
$109.28 to
$126.14 (0.618). This creates a MASSIVE resistance zone.
If
$UPS can break through that supply zone, watch for potential upside. But if it struggles to clear that resistance, a retest of lower levels could be in the cards. Stay sharp
