UPS Slides Below 200-Day Moving Average

This morning, the leading package delivery company United Parcel Service, Inc. (NYSE:UPS) is declining lower by $3.53 to $99.21 a share. Earlier today, the company reported earnings that were lower than the estimates, Q2 profit fell by 58.0 percent. United Parcel Service, Inc. (NYSE:UPS) lowered its full-year outlook for adjusted earnings to $4.90 to $5 a share from $5.05 a share. Traders and investors should now note that the current stock price is now trading below the important 50, and 200-day moving averages. These moving averages are watched closely by many institutional and retail stock traders. Often, when a stock declines below these moving averages it is viewed as a weak technical chart position for the stock. Traders and investors should now watch the $94.00 level as the next important near term support area. This support level on the chart was a prior pivot in February 2014. It should be noted that prior chart pivots will usually be defended by the institutional money when retested.

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Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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