Shares of United Parcel Service, Inc. (UPS) are acting healthy on an intraday basis, finding ongoing support off of the $70.00 area. The ticker continues to surge higher on good trading volume with pps nearing breakout levels. At this point, all of the action following today’s relatively high volume looks to be entirely consolidative in nature. So, an eventual breakout might be possible if the current broad market strength stays steady.
Over the last 52 weeks UPS has gained nearly 24%. The equity currently trades at a trailing 12 P/E of 23.16, a forward multiple of 17.35 and a P/E to Growth ratio of 1.59. More than 1.9 million UPS shares have already traded hands so far into the session.
50-day MA in the name is $68.43 and the 200-day is $64.30. Look for these parameters to climb to confirm the co.’s upward momo.
At last check, shares of UPS were up 73 cents to HOD of $72.42.
UPS is one of largest shipping companies in the world.
Disclosure: No Position