Look for them to close the gap tomorrow .
A bunch of support around channel bottom
100ma( blue line)
200ma(Gold line).
If 279 gap close doesn't act as support and it falls through , that is a double top. If it falls through 279 I expect a touch of 200ma and bounce at 273.
A plan - I think, it can be happen bullish to about $318 as top hill as good start with Puts from top hill. The result can be fat money.
B plan - it can be happen breakout and bearish to cross $250 that zone. so wait for confirm to entry puts on contact.
(not financial advice disclaimer)
macd picking up pace, fdx has support at 295 i am buying some fdx at 295 and more at 275, which seems a better entry, as of now we need to see if 295 holds .
Broke out of downtrend (White line) with a great earnings. Now its sitting on uptrend support.
Short if it breaks below 299 fib support. , that would also place it outside of its uptrend. There's a gap at 280 which would be my first target.
If it bounces , ride it back up to 317
Rising wedges are most often bearish and are considered a terminal pattern. The pattern is not valid unless price breaks the bottom trendline of the wedge (311.50) and these can be very long term patterns. Both trendlines slope up and converge at the apex. Rising and narrowing wedges represent too much buying without adequate pull backs. This interrupts supply...
Possible pull back.
FDX appears to be in a small rising wedge. Price recently pierced the top bollinger band set on an 80 moving average which is a bullish signal but price was drawn back inside the bands, which is where price likes to live.
No recommendation
This may or may not fall any further. If so I am guessing it wont be a long painful pull back, but...
$FDX looks to continue its bullish up trend. Its currently retraced to an important fib level in the golden pocket range. $FDX is $7.81 or 2.52% away from ATHs. If you drop down to a lower time frame you will see that price is creating a bullish flag pattern inside that golden pocket. I don't like the positioning or postures on the stochastics but on the larger...
