📈FedEx looks primed to continue its bullish price action after a 20% pullback from all time highs. There is some resistance to support to watch out for at $258. The short term trend is still bearing, so watch for a break of the descending trend line and a break above $258. The MACD is also curling up for a crossover with bearish volume decreasing on the Daily chart. The last three trading days have seen some good green candles with nice volume. A continuation of the long term trend could see 15% upside, with 6.6% risk (R/R: 2.36). There are some previous levels of resistance from previous price action to be on the look out for. It might be worth noting the median price forecast for FDX is $335.5 which is 33% from current prices.
🔎This is not financial advice. Always do your own research and due diligence.
🔎This is not financial advice. Always do your own research and due diligence.
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Support trend line was not he'd, so trade idea cancelled