p3lonis
Short

Fedex Shipping Downhill After A Struggle Up?

NYSE:FDX   FEDEX CORP
19 1 1
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!
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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