United Parcel shares gain for a second straight session on Tuesday, company appoints Jim Barber as Chief Operating Officer

According to a press release by United Parcel Service Inc (UPS) on Tuesday, Jim Barber has been appointed as Chief Operating Officer and is to assume responsibility for United Parcels global small package, freight, Supply Chain and Freight Forwarding units.

United Parcel shares closed higher for a second consecutive trading session on Tuesday. It has also been the sharpest daily surge since January 2nd. The stock went up 3.77% ($3.99) to $109.80, after touching an intraday high at $110.03, or a price level not seen since February 8th ($112.50).

In the week ended on March 4th the shares of the package delivery company lost 0.23% of their market value compared to a week ago, which marked a second consecutive period of decrease.

However, due to the recent streak of gains, the stock has extended its advance to 5.16% so far during the current month, following a 17.99% slump in February. The latter has been the worst monthly performance since January 2009, when the stock plunged 22.97%.

For the entire past year, United Parcel shares rose 3.93% following another 19.13% surge in 2016.

Jim Barber has been President of United Parcels international unit since 2013. As such, he was in charge of distribution, forwarding, small-package delivery, brokerage and customs compliance. Two years later, Barber also assumed responsibility for the companys Supply Chain and Freight Forwarding units.

“I am pleased to elevate Jim Barber to this key leadership role”, David Abney, United Parcels Chief Executive Officer, was quoted as saying in the press release.

“I look forward to his actions to achieve more profitable growth through driven execution, and by capitalizing on our investments in the network, technology and an expanded market presence. He possesses tremendous breadth of experience, knowledge and proven ability to generate sustained performance gains”, Abney added.

Meanwhile, Nando Cesarone has been appointed as United Parcels International President, thus, assuming Barbers previous role and also joining the companys Management Committee. Cesarone has been President of United Parcels European operations since 2015.

According to CNN Money, the 21 analysts, offering 12-month forecasts regarding United Parcel’s stock price, have a median target of $128.00, with a high estimate of $142.00 and a low estimate of $90.00. The median estimate is a 16.58% surge compared to the closing price of $109.80 on March 6th.

The same media also reported that 18 out of 25 surveyed investment analysts had rated United Parcel’s stock as “Hold”, while 5 – 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, todays levels of importance for the United Parcel stock are presented as follows:

R1 – $110.14
R2 – $110.48
R3 (Range Resistance – Sell) – $110.82
R4 (Long Breakout) – $111.84
R5 (Breakout Target 1) – $113.02
R6 (Breakout Target 2) – $113.62

S1 – $109.46
S2 – $109.12
S3 (Range Support – Buy) – $108.78
S4 (Short Breakout) – $107.77
S5 (Breakout Target 1) – $106.58
S6 (Breakout Target 2) – $105.98

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 – $106.20
R1 – $108.46
R2 – $111.54
R3 – $113.80
R4 – $116.05

S1 – $103.12
S2 – $100.86
S3 – $97.78
S4 – $94.69