UNP got downgraded today,
Took a beating while market is running,in addition to that, if FDX beats the earning tomorrow.
UNP can run with them too due to sector gains.
So we'll take a small position on unp with a tight stoploss.
Bounce play on unp
Entry at $162,
profit taking at 163.9
With earnings season kicking off this week you should be watching to see how the market reacts to the reports.
The S&P 500 has been trading range-bound for the last couple days as it continues to retest the 2600 resistance.
I expect that 2600 will continue to hold lots of sellers and a breakout is less likely than a breakdown.
With Apple, Samsung, FedEx and the...
FDX is approaching its support at 183.24 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially rise up to its resistance at 208.33 (50% Fiboncci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching support where a corresponding bounce could occur.
FDX is testing its support at 200.88 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its resistance at 229.57 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.4% where a corresponding bounce could occur.
Still trying to find my way through TA and trend following, I chose to scrutinize a company that I picked to be in my portfolio at my internship. Back in October, I looked at FDX for a long position to fill out a portfolio of blue chip dividend paying stocks for a model client portfolio. As luck would have it, the stock then rose from $170 to $200. I was happy...
The price channel for this security its very clear, a ressitance at $195, and a support at $187. The candlestick formation is suitable and supports out idea for the trade. We can also get some help from the inexes, which we think are going to take a resto from the bullish trendes for a couple days.The trade is pretty simple.