UPSOpportunity as it in the oversold zone or as it moves down near 177 or even at current levels .
Split the desired volume as accumulate at 177 or near it as it dips.
0R08 trade ideas
UPSUPS
United Parcel Services Inc
A sideways band has been witnessed
since September 20.
The range has been 178-155.
A breakout attempt has been witnessed.
The sideways movement can also be seen
as rectangle.
The breakout implication can be Fib-Retracement
of the fall from 178 to 155.
Resulting in to the target of 192-216-255.
For near term to short term can look at 192 or above.
Expect minor volatility at current level of 178 as it is the breakout point
on account of profit booking.
As long as 13 day average is not violated and as long as RSI is above 45.
As long as RSI is above 45 and below 55 then it can be entry opportunity.
Expect consolidation to happen again around 178 before
making consistent attempt to move higher towards 192 or above.
