Chart of Day: UPS (UPS) – 10/10

Keep an eye on UPS (SYM: UPS).

After pulling back from about $137 to $130.96, it appears to have caught strong support. Plus, as noted by analysts at Citi, the dip is a buy opportunity.

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The firm now has a price target of $162, noting that, “Despite share loss to Amazon Logistics and Walmart Fulfillment Services and mix headwinds from direct-from-China mega e-tailers Temu and Shein, UPS is positioned to benefit from the end of the freight recession and start of the next upcycle, driving more profitable volumes,” as quoted by CNBC.

Even better, with a yield of about 5% and the holidays just around the corner, UPS could see a good deal of upside from its current price of $130.96. Initially, we’d like to see UPS retest $140.

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