Dark Cloud Cover Visible On The Monthly: $UPS
UPS has a Textbook: Dark Cloud Cover; Visible on the Monthly Timeframe after a Failed Bullish Breakout.
The MACD has been Extended to the Positive side for a long while and now soon looks to rollover to the Negative side and Cross Bearishly. The RSI has also been looking suspiciously exhausted at these levels.
If I'm to place a trade on this I would buy quarterly puts and bet on UPS at least testing the previous resistance of 170 as new support but at worst i can expect it to decline hard all the way to fill the open gap still Visible on the Monthly at $108.31
The MACD has been Extended to the Positive side for a long while and now soon looks to rollover to the Negative side and Cross Bearishly. The RSI has also been looking suspiciously exhausted at these levels.
If I'm to place a trade on this I would buy quarterly puts and bet on UPS at least testing the previous resistance of 170 as new support but at worst i can expect it to decline hard all the way to fill the open gap still Visible on the Monthly at $108.31