United Parcel Service (US: UPS) Upside was confirmed on 26^th October 2021 after a strong bullish measuring gap above the expanded falling wedge’s upper sloping resistance. Further technicals indicate that the bull run is set to continue:

1. Since completing the triple three corrective wave and the expanded falling wedge, UPS has embarked on the next sub-bullish impulse wave. Currently, wave 4 of the sub-minor phase is complete after the bullish candle was seen rebounding from the support zone at US$205.50-US$207.50.
2. The falling wedge formation is a potential bullish continuation pattern.
3. The Ichimoku signal indicates a relative upside as the Senkou-Span A  is seen sloping up and the candles are well-supported by the 26 periods Kijun-Sen.

*Expected timeline of the trade is 15 weeks from the date of report issuance.

*Price needs to  be above the Tenkan-Sen which is around the US$211.00 region to further boost the bullish upside confirmation.   

CHART LEGEND

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line