United Parcel Service (UPS) Recently Broke Out Above the 200-Day Moving Average

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.Zacks' Research Chief Picks Stock Most Likely to "At Least Double"Our experts have revealed their Top 5 recommendations with money-doubling potential – and Director of Research Sheraz Mian believes one is superior to the others. Of course, all our picks aren’t winners but this one could far surpass earlier recommendations like Hims & Hers Health, which shot up +209%.See Our Top Stock to Double (Plus 4 Runners Up) >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United Parcel Service, Inc. (UPS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks