Stock of the Day: UPS

In today’s stock of the day, let’s take a closer look at UPS, which is trading in a very technical downtrend. The chart shows a series of corrective moves inside this broader bearish structure, each time resolving to the downside.

The first correction came back in February, where UPS briefly consolidated before breaking through the lower blue line and extending its decline. A second correction followed through April, May, and June, which again ended with a downside breakout and fresh lows. Most recently, the third corrective phase stretched across July and August, and early September brought yet another breakout to the downside, confirming that bearish pressure remains dominant.

This consistent pattern of corrections failing to reverse the trend points to a strong continuation of the downtrend. Unless buyers manage to force UPS back above key broken supports, the path of least resistance remains to the downside, and we should expect sellers to stay in control.

Source: https://www.axiory.com/analytics/stock-of-the-day/stock-of-the-day-ups-1