Once again, UPS (United Parcel Service Inc) offers an objective long entry at long-term support with positive divergences just as it did last year with a nearly identical technical posture (at support with positive divergences). That trade had a perfect (at the lows) entry & exit (at the highs) before reversing & putting in this new, larger divergence low.
UPS daily Feb 12th
I will say that entering a long position with the Nasdaq 100 once again at that downtrend line + Deepseek gap resistance I’ve been highlighting recently tempers my outlook for UPS although I figured the trade idea is worth passing along for those interested, especially if the major stock indices are able to punch through the overhead resistance & break out to new highs.
UPS weekly Feb 12th
I was also going to highlight INTC as the long-term support that I posted at least 3 or 4 long entries at last year.. all of which hit their price target(s) last week but decided to pass for the same reason ($NDX & $SPX at resistance) and of course, INTC just started moving sharply higher off that super strong 19ish long-term support. As such, I’m passing this one along for those interested. Daily & weekly charts with price targets below. Suggested stop somewhat below the recent lows & commensurate with one’s preferred price target(s), ideally using an R/R or 3:1 or better.
Personally, I’m going to wait to see if /NQ & QQQ can punch above the recently highlighted resistance levels, including the downtrend line on the 60-minute chart that it has been testing recently, including today, before considering a position in UPS.