It is that time of year when everybody and I mean everybody is checking their emails for delivery status updates.
Will that gift come in time? Where is that package? Still at the distribution center or is it finally on a truck? Thank g-d. It is almost as stressful as following the stock market.
Let's check out the charts of United Parcel Service (UPS) .
In the daily bar chart of UPS, below, we can see that the shares rallied into early May and then corrected lower into early October. A fresh advance has been underway since early October and prices are now trading above the rising 50-day moving average line and the bullish 200-day line. Prices are testing the highs of May and July and I am not sure that UPS can break out to a new high.
The daily On-Balance-Volume (OBV) line has turned upwards from early October but it is well below the May peak. The Moving Average Convergence Divergence (MACD) oscillator is pointed lower in a take profit sell signal.