UPS is expected to report earnings of $2.5 on $23.02bn.

UPS (United Parcel Service) is due to report quarterly earnings tomorrow, currently, its stock is trading at around $181.04 a share. Applying the Fibonacci retracement to the chart, we can see that the price attempted to climb above the 76.4% Fib on the 25^th of July but failed to close above it. Since then, the price has been falling with support levels along the 61.8% and 50% Fibs too weak to uphold. The next support level sits at $178.23, which is the 38.2% Fib. This is a key level and a test of it would determine the future direction of this stock. At the moment, the near-term bias is bearish but if we see some consolidation around current levels then we would look towards the upside. Consolidation around the 50% Fib would allow us to look at the 61.8% Fib ($185.69) once again. Perhaps the earnings will offer some additional insights for investors/traders, though caution should be considered as volatility may be increased. Look at the technical indicators, MACD is negative and the RSI is just neutral as it reads 45.