United Parcel Service Inc.(‘UPS’) share price has lost almost 10
United Parcel Service Inc. (symbol ‘UPS’) share price has lost almost 10% of its valuation in the second quarter of 2023. The company’s earnings report for the fiscal quarter ending June 2023 is set to be released on Tuesday 8th of August, before market open. The consensus EPS is $2.51 compared to the same quarter of last year at $3.29.
‘The company has a relatively consistent dividend yield of more than 3% where in combination with the payout ratio of around 50% makes it an attractive addition to investors' portfolios.’ said Antreas Themistokleous at Exness.
From the technical analysis perspective the price is trading in an ascending channel for the last month while it is currently testing the technical resistance area of the gap formed in late April. If the price manages to break below the 61.8% of the Fibonacci retracement level then the next level of support could possibly be found around the $182 price area which consists of the 50% of the Fibonacci as well as the 100 day moving average.
The RSI indicator retraced from its extreme upper limit of 70 but its still above the 50 line so we cannot gauge with certainty the short term direction of the price based on this. One of the factors that will be affecting the directional movement of the price will most certainly be the earnings report on the 8th.
‘The company has a relatively consistent dividend yield of more than 3% where in combination with the payout ratio of around 50% makes it an attractive addition to investors' portfolios.’ said Antreas Themistokleous at Exness.
From the technical analysis perspective the price is trading in an ascending channel for the last month while it is currently testing the technical resistance area of the gap formed in late April. If the price manages to break below the 61.8% of the Fibonacci retracement level then the next level of support could possibly be found around the $182 price area which consists of the 50% of the Fibonacci as well as the 100 day moving average.
The RSI indicator retraced from its extreme upper limit of 70 but its still above the 50 line so we cannot gauge with certainty the short term direction of the price based on this. One of the factors that will be affecting the directional movement of the price will most certainly be the earnings report on the 8th.