p3lonis
Short

Fedex Shipping Downhill After A Struggle Up?

NYSE:FDX   FEDEX CORP
18 1 0
Been trying out some elliot waves on some random charts and came across Fedex             . Fedex             has been caught in what appears to be a bull flag channel. RSI has been trending down on the daily and seems prime for a breakout, the weekly RSI agrees this could occur. Monthly RSI seems like a top with bear div             occurring, could a double top be in the process? Running some EW's, I saw Fedex             was possibly at the completion of wave 3 minor of wave 3 major. Wave 2 minor seems to be a nice deep correction to 61.8% so wave 4 minor should be the opposite, shallow, and fall to roughly the 38.2%, that is if EW rules and guidelines are followed. Right now, if a double top were to a occur it would seem like a possible zigzag or running zigzag correction in the wave 4 minor pattern might end up happening. The completion of wave C and completion in wave 4 minor indicates the two potential areas I see this going. The completion of wave 4 minor would be the $150 area which would be the middle of the channel, and 38.2%.

EDIT: Yeah I messed up, published in the weekly and meant to do the daily :P oops. Reason why my lines are off on MACD and RSI .

Lets see what plays outs over the next year!!

As always, I am terrible at making graphs, if you see some errors or want to provide me some advice let me know, always trying to improve! Thanks!
p3lonis
a year ago
Although the timing of my prediction has been slightly off, this pattern is still valid. Again I am looking for a corrective zigzag or running zigzag after it completed its wave 3 at the end of 2014. +1 if you agree please.
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