FEDEX Looks to be ready to try and make higher lows i see no harm in giving this long a shot. Stops, Targets, and Entry are shaded on the chart.
Trade closed: stop reached
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Comment
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Potential Bullish divergence has flipped to Hidden Bearish Divergence with the Bearish Cross on the Daily MACD we may see a correction down to the 200 Day Moving Average or the 3.618:
I feel like triangle pattern is due for this script. I feel this will make a move to 270-275, fall back to ascending trendline. Consolidate and then final breakout to what you said 300$ zone..
rest no one knows :)
RizeSenpai
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@a4ankurbhutani, Stoploss for this setup was hit today. It may start building more negative momentum from here now. It was worth a shot.
a4ankurbhutani
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@RizeSenpai, correct...like I said triangle pattern is due in this script..230 can be a support to form triangle zone..
RizeSenpai
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@a4ankurbhutani, Would you mind showing me what you mean? I'm not quite sure what triangle you're talking about, I can't find one.
a4ankurbhutani
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@RizeSenpai, I am sorry for the delayed response..
I was thinking it will go up to a point (~260$) and then will come down (240-250) and form a trendline triangle and then it will break out of that..
Current situation resembles to what I was thinking at that time..but odds are more that it will break out of 259 zone very soon..but time will tell..
a4ankurbhutani
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@RizeSenpai, Now it is ready to move in either direction, so gap is almost closing between 20 and 50 days EMA..and also trading below the descending trend line..waiting to see the direction..
rest no one knows :)