UPS gapped down big on earnings day has been going sideways for a few days. UPS has been a massive bull run until May 2021.
As you can see from the chart, 190.75 and 195.60 are the support resistance region. It will be interesting to see which way it breaks out as it has been going sideways within this range.
My bias is to the downside, though we should stay neutral.
But i am tempted to do a bear call spread around the 215 level.
As you can see from the chart, 190.75 and 195.60 are the support resistance region. It will be interesting to see which way it breaks out as it has been going sideways within this range.
My bias is to the downside, though we should stay neutral.
But i am tempted to do a bear call spread around the 215 level.
