Shippers Close Strong

01/12/2010 9:53 am EST

Focus: OPTIONS

Thomas Aspray

, Professional Trader & Analyst

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Both UPS (UPS) and FedEx (FDX) closed sharply higher on Monday, and technically, the action appears to be significant. UPS has broken out above key resistance at $60 on heavy volume. The next target is at $70. FDX moved above three-week resistance on good volume and looks ready to test the upper trading channel in the $98-$100 area

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