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Today, we’re opening a bullish trade on United Parcel Service (UPS). Despite the unusual volatility we are experiencing in the market, data around the U.S. consumer has been improving recently.

Recent confirmation from Costco (COST)’s June sales and the runaway trend in Amazon.com (AMZN) is also very encouraging for consumer and business shipping. The decline in FDX was overblown based on non-recurring issues, and we expect these shippers to continue moving higher.

We like support at this level and, unless we see unexpected volatility in the broader market, support should send the stock much higher.

‘Buy to open’ the UPS August 110 Calls (UPS160819C00110000).

You can learn more about identifying price patterns and using them to project how far you think a stock is going to move in our Advanced Technical Analysis Program.

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