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Josh Brown Shares His Thoughts On UPS

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Josh Brown Shares His Thoughts On UPS

On CNBC's "Fast Money Halftime Report," Josh Brown spoke about UBS's bullish call on United Parcel Service, Inc. (NYSE: UPS). UBS upgraded the stock to Buy with a price target of $214.

Brown doesn't own the stock, but he kind of likes it. He likes the fundamentals better than the technicals. He said the last couple of days were not kind to UPS, but the buyers stepped in when the stock reached its rising 50-day moving average, at $165. Brown explained that it's important that stocks respect their uptrends, even in a volatile market.

The negative is that the momentum is rolling over, said Brown. He is concerned because the RSI 14 index is around 40, which is a no man's land. He sees that as a sign that enthusiasm has started to decline.

From the investment perspective, Brown really likes the stock and he would own it, but he warned viewers that they have to be able to get past whatever might happen in the next month or two.

 

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