United Parcel Service Inc (UPS) announced earlier this week that it would develop an electric medium-duty delivery truck in cooperation with electric commercial vehicle startup Thor Trucks Inc headquartered in Los Angeles. The truck is to have a driving range of approximately 100 miles and will be deployed later in 2018.
United Parcel shares closed higher for a second consecutive trading session in New York on Tuesday. The stock went up 0.99% ($1.18) to $119.89, after touching an intraday high at $121.36, or a price level not seen since January 31st ($128.97).
Shares of United Parcel Service Inc have risen 0.62% so far in 2018 compared with a 5.34% gain for the underlying index, S&P 500 (SPX).
In 2017, United Parcel’s stock surged 3.93%, thus, it again underperformed the S&P 500, which registered a 19.42% return.
United Parcel said it would test the class-6 delivery truck, including its battery capacity and technical integration, for a period of six months, after which it may order additional vehicles.
The purchases will be part of United Parcels plan to expand its fleet with about 9 300 low-emission vehicles, including hybrid electric, all-electric as well as ones running on compressed natural gas. The company has been trying to determine which technology is the most appropriate one for particular routes.
According to CNN Money, the 19 analysts, offering 12-month forecasts regarding United Parcel’s stock price, have a median target of $125.00, with a high estimate of $144.00 and a low estimate of $90.00. The median estimate represents a 4.26% upside compared to the closing price of $119.89 on July 31st.
The same media also reported that 14 out of 25 surveyed investment analysts had rated United Parcel’s stock as “Hold”, while 9 – 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 – $120.08
R2 – $120.27
R3 (Range Resistance – Sell) – $120.45
R4 (Long Breakout) – $121.02
R5 (Breakout Target 1) – $121.68
R6 (Breakout Target 2) – $121.95
S1 – $119.70
S2 – $119.51
S3 (Range Support – Buy) – $119.33
S4 (Short Breakout) – $118.76
S5 (Breakout Target 1) – $118.10
S6 (Breakout Target 2) – $117.83
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 – $117.10
R1 – $122.24
R2 – $125.83
R3 – $130.97
R4 – $136.12
S1 – $113.51
S2 – $108.37
S3 – $104.78
S4 – $101.20
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