Fedex Long off Retracement

Fedex FDX is the latest stock on my radar to do a 50% Retracement from the COVID low to All Time High at 204.30. This morning there was a price volatility spike on the 30 minute timeframe (see below) to trigger attention to the setup. I am going to give it a wide berth to play the weekly level but start the position on today's down day.

Comment:

Lower timeframe spike signal