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Charts Reveal UPS Master Top Level

Jul. 09, 2013 12:26 PM ETUPS
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United Parcel Service, Inc. (NYSE:UPS) is surging today on FedEx Corporation (NYSE:FDX) rumors about Bill Ackman's Pershing Square and a possible deal. Both stocks are up substantially with FedEx coming into a major gap fill at $106.50. The key here is to look at UPS and note three major trend line top levels that coincide at the $91.00 level. With so many major resistance points in this range, a pull back becomes an obvious conclusion. Note the chart below.

Gareth Soloway

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