Skip to main content

Market Overview

BZ Chart Of The Day: UPS Hits A Wall (Of Sellers)

BZ Chart Of The Day: UPS Hits A Wall Of Sellers

Shares of United Parcel Service, Inc. (NYSE: UPS) are soaring after posting better-than-expected earnings. But could the rally end soon?

Shares hit resistance around the $217.50 level. Resistance is a large concentration of sellers who are all trying to sell shares at or close to the same price.

At resistance levels, there is more supply than there is demand for the stock. This is why rallies end when they reach them.

Back in May when UPS reached this level, the resistance put a top on the price and a downtrend followed. If it can’t break through, there’s a chance it heads lower as it did then.

To learn more about reading charts check out the new Benzinga Trading School.



Related Articles (UPS)

View Comments and Join the Discussion!

Posted-In: BZ Chart Of The DayEarnings Long Ideas News Short Ideas Technicals Trading Ideas Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at