Sublime_Trading

FedEx Shares Soar 220% in 7 Months!

Long
NYSE:FDX   FEDEX CORP
This year has seen a rise in home deliveries, especially during the lockdown period and FedEx
appears to be one of a number of companies benefiting from this trend.

Over the years price has been on a steady growth, and from a low of $34 in March 2009 price grew
by 700% through to January 2018 and reached a high of $274.

A decline was underway from that point, and in just 26 months the share price dropped to $88.

Things did turn around in April this year as price started an impulsive trend back to the upside,
not only breaking above last year's high and the $200 round number, but also the previous all-time high.

As long as the demand for home deliveries remains high, we may see FedEx continue to shine.

The next hurdle in the way is the $300 round number which may act as an obstacle but seeing how
quickly price has climbed lately, the $300 psychological resistance may not cause any long-term problems.

As price has created record highs this month, this stock has moved higher on our watchlist and now we
are just waiting for a high probability setup before entering a position.

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