The Long Investor
patreon
$UPS
🕑 Added 2025-01-31 12:19:10 +0000 UTCSank -14% yesterday after it was revealed that they will be losing at least -50% of their contract with $AMZN....I don't think this was a big surprise, especially not in the flying sector, as we see $AMZN expanding their fleet of planes and contracts to operate deliveries by themselves now and reducing costs.
Fedex does not deliver anything for $AMZN and they are not struggling either, it's up to $UPS to adapt now
Price action is still in the downward channel and testing support now on the 0.78 Fib at $113
I don't believe there is any rush to enter here until support is found
CEO reaffirmed today that the +6% dividend will continue to be paid which will be welcomed by the market.
Also, $UPS is substantially below its 200 WMA at $175
So if support can come above $81 (the bottom blue line) then letting the price consolidate first before entering does make sense.
I am maintaining my impulse count as it is still valid
