UPS SHORT, Fill the GAP
UPS touched ATH the other week at $220 and has since then drifted down to, currently, $211. Looks like maybe a falling wedge is shaping up and might push back up to ATH...possibly. However, looking at the Volume Profile, there is extremely Low Volume underneath $210 on the daily. If price were to drop below this area, you could see a significant drop into the GAP around $180-$190. UPS is currently trading much higher than the VPOC around $160 on the daily I personally believe UPS is overextended and is in need of a healthy pullback. Based on the VPOC, Gap, and overextended trend UPS has been on, I am short on this. However, with that said, if price were to break ATH at $220 you could see a significant push higher as well. As always have a trading plan in place and protect your capital.
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