United Parcel shares close higher on Wednesday, 95 000 seasonal workers to be hired for holidays

September 21, 2017 7:30 am

According to a statement by United Parcel Service Inc (UPS) on Wednesday, it expects to hire 95 000 workers for the upcoming holiday season in order to service the expected growth in package volume. The peak season usually starts with Black Friday in November and continues through early January.

United Parcel shares closed higher for the seventh time in the past ten trading sessions on Wednesday. It has also been the sharpest daily increase since September 12th. The stock went up 0.74% ($0.86) to $117.83, after touching an intraday high at $118.38, or a price level not seen since December 14th 2016 ($119.92). In the week ended on September 17th the shares of the package delivery company added 2.48% to their market value compared to a week ago, which marked a fifth consecutive period of gains and also the best performance since the week ended on June 18th. The stock has extended its advance to 3.03% so far during the current month, following a 3.69% surge in August. The latter has been the fourth gain out of six months. For the entire past year, United Parcel shares gained 19.13%. The stock has risen 2.78% so far in 2017.

In a post Reuters reminded that the number of seasonal employees hired by United Parcel for holidays had been without change since 2014.

According to United Parcel, approximately 35% of workers hired for the holiday season during the past three years have obtained full-time employment with the company.

United Parcel also said that its average daily volume had exceeded 30 million packages on some days during the 2016 holiday season. In comparison, the company’s usual average volume per day is about 19 million packages.

According to CNN Money, the 20 analysts, offering 12-month forecasts regarding United Parcel’s stock price, have a median target of $116.00, with a high estimate of $130.00 and a low estimate of $80.00. The median estimate is a 1.55% decrease compared to the closing price of $117.83 on September 20th.

The same media also reported that 17 out of 23 surveyed investment analysts had rated United Parcel’s stock as “Hold”, while 4 – as “Buy”. On the other hand, 1 analyst had recommended selling the stock.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the United Parcel stock are presented as follows:

R1 – $117.99
R2 – $118.15
R3 (Range Resistance – Sell) – $118.31
R4 (Long Breakout) – $118.78
R5 (Breakout Target 1) – $119.34
R6 (Breakout Target 2) – $119.58

S1 – $117.67
S2 – $117.51
S3 (Range Support – Buy) – $117.35
S4 (Short Breakout) – $116.88
S5 (Breakout Target 1) – $116.32
S6 (Breakout Target 2) – $116.08

By using the traditional method of calculation, the weekly levels of importance for United Parcel Service Inc (UPS) are presented as follows:

Central Pivot Point – $117.07
R1 – $118.83
R2 – $119.76
R3 – $121.52
R4 – $123.28

S1 – $116.14
S2 – $114.38
S3 – $113.45
S4 – $112.52

Where to Trade

BinaryTribune is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action, Binary Options and Social Trading.

Related