United Parcel Service Inc.(UPS:NYSE) Elliott Wave Technical Analysis Daily Chart, December 12 2022

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United Parcel Service Inc., Elliott Wave Technical Analysis

United Parcel Service Inc., (UPS:NYSE): Daily Chart, December 12 2022, 

UPS Stock Market Analysis: UPS has been moving as expected from the last update. We arelooking at a move off the 155$ lows as a corrective move, being a three wave structure. We are notforecasting either a three wave move or a triangle in wave (b).

UPS Elliott Wave Count: Wave (b) of {b}.

UPS Technical Indicators:Averages are crossing, 20EMa acting as resistance.

UPS Trading Strategy:Look for short term short and then wait for a clearer picture on how wave{b} is going to look like.

TradingLounge Analyst: Alessio Barretta

 

 

 

United Parcel Service Inc.,UPS: 4-hour Chart, December 12 2022

United Parcel Service Inc.,Elliott Wave Technical Analysis

UPS Stock Market Analysis:We could potentially have finished wave a and be in wave b of (b).However the initial move up in potential wave b seems to be a three wave move and therefore wecould still break the low of wave a. Support could be faced at around 167$ where we have largevolume from the previous up swing.

UPS Elliott Wave count: Wave b of (b).

UPS Technical Indicators: 20EMA acting as resistance.

UPS Trading Strategy:Lookin for shorts, potentially up to 167$.