UPS trade ideas
👀🚨SUNDAY OPTIONS WATCHLIST 12/20/20🚨👀UPS - Starting to gain some strength approaching these highs. Steady uptrend off the double bottom on the daily chart. RSI broke its downtrend. Will be looking for any dips on this one to enter for a swing. Looking to pay calls as we approach resistance, trim and hold for potential breakout.
UPS Long$UPS. Price took a dip today and found support around that 163.70 level. Next resistance on the way back up looks to be around 167.20 if our support level holds. Price could very well push past our 163.70 resistance level, in which case I would ride it out and trail stop loss, however this is a day trade idea so I would claim profits if we see price bounce from that resistance level.
All time highs for UPS?As we quickly approach the holiday season, even in a pandemic, UPS is swamped with deliveries, so much so that they have to put a shipping cap on numerous companies such as Nike and Gap. Can this be the catalyst to put this stock back above the ATH? It sure seems like it. Combined with good catalyst mentioned above and a symmetrical wedge forming, we can see a strong breakout coming soon for UPS. The first test I would like to see is 178, followed by a 1.272 fib target at 183.98. These targets also have other support and resistance levels, noted in pink on the chart, before reaching these levels. Solid volume along with a hold above the trendline makes for a fantastic opportunity with this stock. Contract suggestion: 1/15/21 170 calls, last recorded price at $5.50, 6,000+ OI. The stop will be placed at the break and hold of the lower purple trendline.
UPS Buy PossibilityUPs has been on a monster roll throughout the pandemic and is current;y trading in this channel. Holiday season is approaching and UPS will play a role in how vaccines are shipped around the country. I am currently looking for buys and see a possible setup for tomorrow.
I would like to see Price action as UPS approaches its 50EMA on the 4HR chart. I like the RR of this trade.
Possibilities:
If UPS gaps up I may not enter the trade depending on how far it is from entry. Will wait for retest of key level.
If it gaps down I will wait for price action to cross my demand area upwards.
Exit: I will abandon this trade if it breaks and hold below the 50EMA on higher time frame.
*This is not financial advice. I am not a advisor.
UPS RetracementHello traders!
Entered a sell at resistance point.
Falling nicely under VWAP.
Waiting for a break of 50EMA for more aggressive entry (I'm already in short)
Although I'm bullish longterm (Especially with holiday season around the corner) I am looking for a retracement here.
Will be looking for buys at the green box. (Gap to fill area)
I like the confluence of the Fib levels with support.
This is not financial advice. Share your thoughts with me <3