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United Parcel Service (UPS) shares have tanked in recent sessions as the Iran war pushed oil prices to a high of roughly $120, directly impacting the shipping firm’s substantial fuel costs for both ground and air operations. Following this decline, UPS has its relative strength index (14-day) hovering in the high 20s, indicating oversold conditions that often spark buying momentum in the near term.
At the time of writing, UPS stock is down nearly 18% versus its year-to-date high in mid-February.