United Parcel Service Inc.(UPS:NYSE) Elliott Wave Technical Analysis October 7 2022

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United Parcel Service Inc., Elliott Wave Technical Analysis

United Parcel Service Inc.,  (UPS:NYSE): Daily Chart, October 7 2022,  
UPS Stock Market Analysis: Moving as expected, we are looking for further downside with at least one more move down.  

UPS Elliott Wave count:  (iv) of {c}

UPS Technical Indicators: We are below all averages

UPS Trading Strategy: Looking to short on wave (iv) to potentially target equality of {a} and {c} at 148$.

TradingLounge Analyst: Alessio Barretta
 

 

 

 

United Parcel Service Inc.,  UPS: 4-hour Chart, October 7 2022  

United Parcel Service Inc.,  Elliott Wave Technical Analysis
UPS Stock Market Analysis: The subwaves are pretty clear which gives us additional confirmation. Looking for further downside and potentially a sideways wave (iv) alternating with wave (ii).

UPS Elliott Wave count:  Wave (iv) of {c}.

UPS Technical Indicators: We are using the 20EMA as resistance as well we are starting to form RSI divergence.

UPS Trading Strategy: : Looking to short on wave (iv).