Union Pacific Corp., UNP:
1. Since Feb. 9 in our ongoing Williams edge stock meetings it was noted that any weekly close in Union Pacific Corp. below $122 (and best case $120) could be shorted for a decline to $115/$14 or lower.
2. Today’s (Wed., Mar. 11) Union Pacific Corp. session completed the $114 forecast downside profit target (today’s session low, $114.28). This represents partial profit-taking territory. Any remaining short position should be held for the possibility of lower prices to be messaged in a subsequent update.
3. A protective buy stop should be placed at $118.70. This stop will be moved lower as the market continues to confirm.
4. The next important weekly bottom in Union Pacific Corp. is due the week of Mar. 16 (+ 1 week). Will update.