UPS- Continuation of stage 4 decline?
Dear all,
In a weak market, I look for stage 4 breakouts and continuation pattersn (based on the famous Stan Weinstein).
I try to look for bear flags that fall together with downsloping 50 day sma (or at least very close, a few %s).
This is the case for UPS.
After a last few good months for UPS, a possible bear flag is forming that coincides with a support/resisistance level and a downsloping 50d sma.
The AVWAP of the latest High and Low are also above the current price, giving extra pressure for a downturn (since the sellers are in control).
Things to consider for a stage 4:
- declining 30 week Ma :check
- declining 10 week Ma :check
- 10 w underneath 30w :check
- Loss of trendline :TBA
I will open some puts (3 months out) when the price breaks $173.3 or the striped support line.
Possible stop loss could be the 50d SMA or the AVWAP of the low.
In a weak market, I look for stage 4 breakouts and continuation pattersn (based on the famous Stan Weinstein).
I try to look for bear flags that fall together with downsloping 50 day sma (or at least very close, a few %s).
This is the case for UPS.
After a last few good months for UPS, a possible bear flag is forming that coincides with a support/resisistance level and a downsloping 50d sma.
The AVWAP of the latest High and Low are also above the current price, giving extra pressure for a downturn (since the sellers are in control).
Things to consider for a stage 4:
- declining 30 week Ma :check
- declining 10 week Ma :check
- 10 w underneath 30w :check
- Loss of trendline :TBA
I will open some puts (3 months out) when the price breaks $173.3 or the striped support line.
Possible stop loss could be the 50d SMA or the AVWAP of the low.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.