Can United Parcel Keep Delivering?United Parcel Service started delivering new highs in the summer of 2020. Now the chart could be interesting again after an eight-month pause.
First, notice the bullish gap after the last quarterly report on October 26. Earnings, revenue and guidance all surprised to the upside as CEO Carol Tome (installed last year) continues to execute her turnaround plan .
UPS pulled back after the surge. It tested and held its 200-day simple moving average (SMA), then reclaimed the 50-day SMA.
Price formed a downward-sloping trendline in the process, which it broke on Friday.
Next, the 8-day exponential moving average (EMA) recently pushed above the 21-day EMA. That’s a potential sign of the shorter-term trend growing more bullish.
Stepping back to the weekly chart, a high basing pattern appears with UPS making higher lows in June and late November. Santa also left a bullish outside candle under the tree.
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