Sunday, December 17, 2017

United Parcel Service (NYSE:UPS) Sinks After Amazon Invades Another Industry

Amazon.com, Inc.(NASDAQ:AMZN) has announced that they will start a delivery service to compete with United Parcel Service, Inc.(NYSE:UPS), and FedEx Corporation(NYSE:FDX). While this news has been tossed around for years it looks as if Amazon.com is really about to make the move in the package delivery business. Due to the upcoming holiday season there will certainly be more than enough packages for all of the companies in the shipping and delivery sector. This does not mean that stocks such as United Parcel Service, Inc.(NYSE:UPS) and FedEx Corporation(NYSE:FDX) won’t see lower stock prices in the near term. At this time, the next major daily chart support level for UPS is going to be around the $113.50 area. This is a major retrace level that will often hold as support when initially tested. Traders and investors should remember that daily chart support levels are generally good for about three to five trading sessions.

Nicholas Santiago

InTheMoneyStocks



| More