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United Parcel Service (NYSE:UPS) is currently 10.38% oversold based on our measures, making it the most oversold it has ever been.

The chart above highlights other occurrences when UPS has initially been oversold by at least 5% (meaning the first time it crosses the 5% limit). As shown, there have been times when this oversold level has offered a buying opportunity in the stock. The current gap down however, looks most similar to the move seen in January 2005 when the stock gapped down and then continued lower for months.

Source: UPS Drops Hard -- A Historical Look