United

Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>UPS stock price showed selling pressure in the past sessions.</a> </li> 
 <li> <span>2</span> <a>Bears are gaining traction and persist in making short buildup.</a> </li> 
</ul> 
<p>United Parcel Service (UPS stock) price showed selling pressure on the charts and hovered near the support range of $165. Moreover, the price action showed a breakdown of the rising wedge pattern in the past sessions, and a gap-down move was noted on the charts, which acted as a resistance near $190. Furthermore, the chart indicates that UPS stock is trading in a narrow congestion range and faced negative sentiment due to the mixed Q2 earnings result, which favored bears and stock price persisted in a fall.</p> 
<p>UPS stock price shows the breakdown of the symmetrical triangle pattern, and the price broke the lower trendline and closed below the support of $170. However, follow-on selling gave a firm conviction for a further down move toward $150 for the upcoming sessions.</p> 
<p>At press time, UPS stock price is trading at $168.49 with an intraday drop of 1.61% showing bearishness on the charts. Moreover, the trading volume increased by 0.24% to 3.565 Million, showing seller interest and a market cap of $144.105 Billion. However, Analysts maintained a neutral rating with a yearly target price of $191.54, which the stock could not sustain and faced selling pressure resulting in the fall.</p> 
<p>United Parcel Service, Inc. is a package delivery company that provides global supply chain management solutions. It operates through the following segments: U.S. Domestic Package, International Package, and Supply Chain Solutions.&nbsp;</p> 
<p>The U.S. Domestic Package segment includes time-definite delivery of letters, documents, and packages. The International Package segment focuses on delivery and shipments in Europe, Asia, the Indian subcontinent, the Middle East, Africa, Canada, and Latin America. The Supply Chain Solutions is involved in forwarding, logistics, Coyote, Marken, and UPS Mail Innovations.</p> 
<h2 class="wp-block-heading" id="strong-ups-stock-price-action-on-daily-charts-strong"><strong>UPS Stock Price Action On Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/kYAY5E4465ZdJi5ugiNq4iF7KCXQfJg1G32nsaVOukrJ9U1DLmTMOrWlt6XBx8rY1yp_ddRUgdVN0Z6lTjKpyfT0ZM60R02LXU_cMtxstMnpFsDmkHmcAHf2r_laYjWxF4bg0roUnP7khDi36sRx3g8" alt="UPS Stock (NYSE: UPS) Near Crucial Support, More Fall Ahead?"> 
  <figcaption class="wp-element-caption">
    Source: UPS Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>UPS stock price showed multiple bearish patterns, broke the lower trendline signals of seller dominance on the charts, and persisted in forming lower lows for the past sessions. Moreover, <a href="https://www.thecoinrepublic.com/2023/08/17/after-losing-24-weekly-upst-stock-is-ready-to-bounce/" rel="noopener noreferrer nofollow">UPS stock</a> slipped below the 38.2% Fib level and near the lower Bollinger band, showing the beginning of a downtrend.</p> 
<h2 class="wp-block-heading" id="strong-short-term-charts-indicate-seller-dominance-strong"><strong>Short-Term Charts Indicate Seller Dominance</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/xqaBzeVgRaACanQWzFb2CotA7mOKnVQ-nn3lP4gMmtKrjt8AdUl-pO5fjJwkk0tgwu1p4QrtNn5bjO8GQJS2P6XRFwYWoBRFjOoathu9qXykulIgNsvbbvJDCaErCu78btORz2YyKg66G5X3ZAEfsQY" alt="UPS Stock (NYSE: UPS) Near Crucial Support, More Fall Ahead?"> 
  <figcaption class="wp-element-caption">
    Source: UPS Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>UPS stock price showed selling pressure and retested the demand zone near $170. The upper trajectory is near $190, which buyers failed to surpass, and headed toward the lower trajectory near $150, which sellers were willing to catch.</p> 
<p>The RSI curve dragged toward the oversold region and showed bearish divergence, indicating a negative outlook on the charts.</p> 
<p>The MACD indicator showed a bearish crossover and formed red bars on the Histogram, suggesting sellers’ dominance on the charts.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>United Parcel Service <a href="https://www.thecoinrepublic.com/2023/08/17/after-losing-24-weekly-upst-stock-is-ready-to-bounce/" rel="noopener noreferrer nofollow">(UPS stock) price</a> showed selling pressure and hovered near the crucial support range. Moreover, the stock closed below the trendline of $170 and showed a breakdown on the charts. Furthermore, the price action favored the sellers and suggested a follow on selling toward $150 for the upcoming sessions.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels:</strong></h4> 
<p>Support Levels: $160 and $150</p> 
<p>Resistance Levels:$180 and $190</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

UPS Stock (NYSE: UPS) Near Crucial Support, More Fall Ahead?

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