Good Thursday, Traders!
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Now, let’s shift gears and look at what we see in what is arguably the ultimate economic stock…
Big Brown Delivers
When we were children, seeing the big, brown delivery trucks from United Parcel Service Inc. (UPS) pull up was a big deal.
You knew that what was coming in those brown paper packages tied up with string was special.
But fast forward to today, and these trucks, planes and beyond are ubiquitous and constantly delivering what is the cornerstone of the US economy… Consumer products.
And as consumer spending is the biggest single bit of US economic growth, UPS is the ultimate economy stock to trade right now.
UPS Trade & Chart Setup
Inside my premium trading service, Josh’s Top 5, we have been tracking UPS and its stock with an eye towards trading profits.
For more on Josh’s Top 5, click here.
Here’s how UPS could be setting up for a trade on the daily chart…
And here’s how we see the trade potentially moving along…
The UPS daily time frame is currently in an uptrend. The market is making higher highs and higher lows and is at the price level of the current up trendline.
The one hour time frame is at a low price on a major support level. If the market can close above the support and break the counter trendline, there may be an opportunity for an entry.
Now, For more on the markets as well as trading education and trading ideas like this one, look for the next edition of Josh’s Daily Direction in your email inbox each and every trading day.
I’ll be bringing you more of my stock and futures contract trading tutorials as well as some additional trading ideas.
And if you know someone who’d love to make this a part of their daily trading routine, send them over to joshsdailydirection.com to get signed up!
Keep On Trading,
P.S. I have been teaching more and more traders how to make their own trading accounts work so well that they can effectively become a side job with plenty of regular earning opportunities. And in particular, learn how this is really working with digital currencies such as BTC!To learn how to do this effectively using the strategies developed inside my War Room, click here!
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