From a technical perspective, United Parcel Service (UPS) is looking like an interesting pick, as it just reached a key level of support. UPS recently overtook the 200-day moving average, and this suggests a long-term bullish trend.
A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.
Shares of UPS have been moving higher over the past four weeks, up 5.7%. Plus, the company is currently a Zacks Rank #3 (Hold) stock, suggesting that UPS could be poised for a continued surge.
Looking at UPS's earnings estimate revisions, investors will be even more convinced of the bullish uptrend. There have been 9 higher compared to none lower for the current fiscal year, and the consensus estimate has moved up as well.
Investors may want to watch UPS for more gains in the near future given the company's key technical level and positive earnings estimate revisions.
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United Parcel Service, Inc. (UPS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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