Momentum is building with this Rectangle. See the live chart action.
Sideways movement between parallel supports.
Bearish continuation pattern.
Bearish continuation if preceding move was down.
Market participants tracking United Parcel Service should note the latest formation. With a last close of $98.18, volatility remains active (0.28%). Algorithmically, a Bearish Flag structure has completed. The trend indicator is reading 7.5/100, suggesting moderate momentum. A potential breakout level is identified at $94.06, targeting $67.39 with support near $99.7 (R:R 4.73).
What is your outlook on UPS?