Delivering Holiday Packages and Results
- Posted by Greg Harmon
- on December 27th, 2011
If your house is like my house you had a visit from the ‘Brown’ truck and the ‘White’ truck as my kids call them, everyday for the last 3 weeks. I am talking about United Parcel Service, $UPS, and FedEx, $FDX, of course. With all that activity the stocks have to be doing well right? Let’s take a look.
FedEx, $FDX, suffered the same fate as the market falling in early August, but then continued in an expanding wedge lower until breaking above it in early October. Since then it has had a tough time with resistance at 85. It is back there now and might be ready for more. It is now above the 200 day Simple Moving Average (SMA) and has a 50 day SMA rising to meet it. It has a Relative Strength Index (RSI) that held bullish and is rising again and also has a positive Moving Average Convergence Divergence (MACD) indicator that is increasing. All positive supporting signals. Over the 85 level it can run to 90 or more.
United Parcel Service, $UPS
United Parcel Service, $UPS, took a similar path from August through October and into the present (pun intended), but looks even better. It has found resistance between 73.90 and 74.50 numerous times with only one break above it to 75.82, the all time high, briefly in February. It has the support of the Golden Cross (50 day SMA through the 200 day SMA) having already occurred. The RSI is bullish and over 60 while the MACD is slightly positive. the trend is what looks better with a stronger series of higher highs and higher lows. A move over 74.50 tests the all time high and then can take off.
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
Dragonfly Capital Updates
- Macro Week in Review/Preview May 17, 2013
- Dragonfly Capital Views Performance Through May 2013 Expiry
- Premium Earnings 5-17-13
- Which Way is Up?
- Cicso Kid Was a Friend of Mine
- Premium Earnings 5-16-13
- Lights Out for the Shiny Metal
- It’s Official – I Am Now An Expert and Bill Gross is Not!
- Revisiting the Grandpa Portfolio
- Premium Earning 5-15-13