UPS , massive double top
Looks like a pennant but quacks like a doubletop.
UPS trades under the dow jones transportation index or DJT .
I added DJT to this chart (Orange wave) to show the comparison. DJT as you can see is bearish and UPS is moving in its direction slowly.
MACD -Death cross
RSI - downtrend
Selling volume increased heavily.
This is a longterm short play, a fall below trendline would be a double top conformation.
UPS trades under the dow jones transportation index or DJT .
I added DJT to this chart (Orange wave) to show the comparison. DJT as you can see is bearish and UPS is moving in its direction slowly.
MACD -Death cross
RSI - downtrend
Selling volume increased heavily.
This is a longterm short play, a fall below trendline would be a double top conformation.
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