I have been following $UPS for sometime in the back ground, as it drifts back down to the 0.618 fib again at $138, this will be the third test at this level and if it can hold, it is further confirmation that Wave 2 is complete.
Ultimately breaking out of this channel will signal the reversal but in the meantime their fundamentals continue to improve with a FWD PE of 15 and healthy margins.
As a long term play, I like this.
Shailesh Patel
2024-07-24 17:04:28 +0000 UTC