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FedEx, UPS, Transportation Stocks Strong, but Resistance Looms


All good rallies require consolidation at some point. And looking overhead, it appears that the transports may get one sooner rather than later.


United Postal Service – Daily Chart

UPS has some room before hitting resistance at 2012 highs. A bit of a laggard, considering that it is still 4-5% off 2012 highs.

Dow Jones US Airline Index – Daily Chart

Airlines have been strong and still have some room. But 83-85 looks like an area that may give the index some trouble. Nice looking technical setup intermediate term with the rounded bottom and acceleration in place.

Delta Airlines – Daily Chart

DAL is sitting just 3% below key resistance. Bulls would like to see a breakout and successful retest, but the breakout may be stronger if the stock consolidates first. Either way, keep an eye on the price action around this resistance line.

Editor's Note: Andrew Nyquist is an independent investor based in the Minneapolis area. This article originally appeared on his investing and economics site, See It Market.

Twitter: @andrewnyquist
No positions in stocks mentioned.

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