FDX trade ideas
Example of a Doubletop pattern on FDX stockFedex corp stock price, formed a doubletop pattern. This pattern consists of the following: the price move higher and is rejected in a resistance (first Top). then it goes down and makes a minimum (neck line) and bounces back to the previous resistance making a second Top and bouncing back towards the neckline and breaking it down. To confirm this pattern, the price should close below the neckline. At this point you should make a short. The profit is the distance between the maximum price and the minimum price.
In some cases you can see a pullback. This could be a second chance to short the stock.
FedexWe have been bullish on Fedex for quite a while but now we are taking money off the table and walking away from it. The chart just does not look good. Actually I should say it does look good if you use the Ellliot waves because one can make a case since the 2009 low we do have a clear five waves up indicating somekind of top is at hand. We might chop our way higher but any gain from here should be limited.
The overall transport complex appears ready to take a break. We are too.
Ascending triangle - bearish engulfing candlewhat is your opinion? Will FDX continue the trend or does the bearish engulfing candle signal a reversal?
$FDX bullish setup but holding major resistance $FDX bullish setup but holding major resistance and major support #support #resistance #stocks #stock #options #option #fdx #ups #market
another trade with FDXFDX is looking strong with a long uptrend
last few weeks were in my opinion a correction and price created a buying opportunity
price broke above small downtrend channel and formed a inverse H&S (no confirmation yet!)
firs i see price closing gap at 217 and if breaks above the highs could have great long term potential
Fedex at Make Break Level 209.11Seeing 209.11 as the key level to gauge if bears are still in control. Expecting bears to fight back hard to defend this key level.
FedEx's exchange rate is declining.FedEx's exchange rate is declining. Our assumption is that the exchange rate drop will continue at nearly the same rate. Our primary target price is 180.87 usd. We will pick up a long position again from this level. At this point, the correction axis will be the target price near usd 213.67.
Buy FDX here, stop at 217.54...expect a 4 to 1 tradeFDX broke to the upside out of a Market Profile pattern today. Expect additional follow through.....
