Hubert Senters here.
Let’s take a look at UPS, United Parcel Service has a breakaway this week. It took all week though you see nice little bracket trade here. You don’t want to trade this then you’re going to wait for a trade or a close above.
Now, let’s see if we can figure out a potential target for this bad boy. The first thing I do usually is very simple. I’ll just do look back. I’ll look at a longer time frame and go ok, is there anything back that I can go play with?
No. Easy. If you’ve got a dirty mind. Keep it clean folks. So I can’t deal anything with that situation. There’s no know previous resistance because we’re making all time highs.
So the second thing I would do is I will dial down and I look for that. That’s a high. That’s a potential low. So I could go high, low. It’s not going to be perfect but I could probably go to one, two, three and make it work for me.
And heads up in trading not all of it works perfectly so sometimes you got to be little creative and see where you got to go. Potential targets for next week for UPS is going to be $167 and then $159 and right now it’s trading at $156.
Toast To Traders this weekend. I’m going to HYPERLINK you to the registration form. Here are your following speakers.
Good luck. Hope it helps. I’ll send you to the registration page and have a great weekend.
Hubert.
