UPS - Buy the dip at this price
UPS just had earnings and hoping to catch the dip. There is a Weekly demand zone of more willing buyers between 116.61 & 120.30. The area showed a strong rally in price and took out 2 sellers' peak (in black arrows on the left) showing a great breakout and strength. I am predicting price will come down bounce from the demand zone (in green) and rally from there. If I'm wrong, I will get out at a small loss.
Please note that I prefer to use stop losses on all of my trades to prevent myself from gambling.
Entry: 120.30
Stop Loss: 116.61
T1 - 1:1 Reward to Risk (for break even): 124.35
T2 - 5:1 Reward to Risk 139.28
Please note that I prefer to use stop losses on all of my trades to prevent myself from gambling.
Entry: 120.30
Stop Loss: 116.61
T1 - 1:1 Reward to Risk (for break even): 124.35
T2 - 5:1 Reward to Risk 139.28
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