This morning, the leading package delivery company United Parcel Service, Inc. (NYSE:UPS)) is declining lower by $3.53 to $99.21 a share. Earlier today, the company reported earnings that were lower than the estimates, Q2 profit fell by 58.0 percent. United Parcel Service, Inc. lowered its full-year outlook for adjusted earnings to $4.90 to $5 a share from $5.05 a share. Traders and investors should now note that the current stock price is now trading below the important 50, and 200-day moving averages. These moving averages are watched closely by many institutional and retail stock traders. Often, when a stock declines below these moving averages it is viewed as a weak technical chart position for the stock. Traders and investors should now watch the $94.00 level as the next important near term support area. This support level on the chart was a prior pivot in February 2014. It should be noted that prior chart pivots will usually be defended by the institutional money when retested.
