UPS & FDX

UPS looks bullish. This is a Weekly timeframe. Bullish volume is noticably up, MACD is bullish. The stock broke out the week before above the 200 EMA. The next resistance looks to be in the $66 area, so trading at $62, that's still a possible $4 move. However, RSI shows that this stock is in overbought territories. It would be nice to see it hit between $65-67.50 and then pullback.

I do like this company as it helped put me through engineering college. Worked really hard, but they were fair, paid me very well (as a college student), with great benefits as a part-time employee.


FDX and UPS look sort of similar. Though I do not have the weekly chart posted, the bullish volume has been decreasing gradually as price action moves up, while bearish volume has been sneakily increasing. This is very similar to the $SPX. There is bearish divergence on RSI and we are at the 61.8% Fibs level of the highs and lows. So, this would be a great time for a retracement from this retracement.

What the chart looks like is it may want to form a double top ("M") pattern around the $90 mark. Though it's at $86 right now, a $4 move just doesn't seem as exciting here as it does in the $60s.
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