FDXD trade ideas
Using options properly to pick up premium on time decayGreat reverse iron condor opportunity that I am running on FedEx.
Price action leans bearish to me, but essentially I am just looking for a modest move up or down. What would be bad is for the stock to chop sideways.
FDX wave 3 Upside target (Trade update )FDX rally on-going moving towards the underside of wave (3) resistance at 239 followed by a pending wave (4) consolidation. Look to book partial profits on our medium term FDX long position into 240-255 level.
FDX inching towards massive macro resistance The long awaited FDX dump is right upon us. There is resistance at this .786 fib level. Back in December of 2018, FDX got rejected hard off this level. I am looking for another rejection. This would create a nice double top on FDX and a perfect short opportunity.
PT for earningsWeekly day chart - if current trend holds, I expect price will be between 235.4 - 240.56 by earnings.
RSI shows it's currently overbought, waiting for it to pull back to around 220 to get in.
FDX - Potential Long OpportunityFedex has broken out of its downtrend from 2018 and has had a MACD crossover on the monthly chart. Volume looks strong but is waning now that it is in overbought territory on the RSI. A rejection off of the 1.618 retracement level and a retest of a strong support level may give a good entry point for a long position. I will be patiently waiting for the pullback for proper entry.
As always, I am not a financial advisor and this is not financial advice. Do your own research and formulate your own theories. Good Luck!
FDX PT $215support is $208. over $209.60 and i'm looking at $215 for the swing. if we break $208 then next support will be $207.10 followed by $205.60. We did just break a key resistance so i'm looking at $215 on the higher timeframes.
Fedex is riding the coat tails of the industry.June quarterly earnings by FedEx was a 180% surprise to the downside. While UPS posted a 90% upside surprise. Then FedEx drove its price based on Stamps earnings all which ignoring that FedEx under performed its industry.
Pompous FedEx is completely disconnected from reality.In what world does a company that is completely reliant on on a healthy economy believe that it somehow should increase its value by almost 30 percent in the past 10 days while the world economy is the worst in history. Time for a huge wake up call. Plus a .65 cent dividend? Ok.... So the perception is that they are doing well to move the stock and trap investors, when reality comes through in those numbers and this craters 50% everyone will realize how where the heart of this company truly lies
FDX: Ascending triangle, Confirmed and 100% filledAscending triangle, Confirmed and 100% filled
Could reverse on 170 resistance.
Watching to see if it will reverse and fill the gap up from June 2020.
