Delivery Status:

The delivery services space is a tight-knit one with just a few players dominated by the likes of FDX and UPS. EXPD does deserve a mention, although it is often in the shadows of the large duet but is right in the area of a cup with handle pivot of 118.73. Its WEEKLY chart can be interpreted as a bullish ascending triangle with a move above the round 120 number buyable. Below is the chart of FDX which is now 8% off the most recent 52-week highs and if it can catapult above the 236 level would end a string of lower WEEKLY highs dating back 2 years. Volume trends have been bullish with accumulation weeks ending 2/3 and 3/17 which added 12.6 and 9.5% respectively (zero distribution weeks since the 30% combined loss the 2 weeks ending between 9/16-23/22). It REPORTS earnings on 6/20 after the close and the last 2 have been well received. Even UPS is enjoying a nice week so far up almost 3% after the prior 4 weeks all CLOSED very taut with a 170 of 171 handle.

This article requires a Chartsmarter membership. Please click here to join.