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On watch for a bounce off the trendline which offers the potential of an inverse head and shoulders.
FDX @ important level wait for bull candle pattern
Looking for a break and a daily close of the descending trend line.
I look to target the 1.272 extension of 175.5
Potential inverted head and shoulders on $FDX daily into an ascending broadening wedge.
Expecting a nice move up from here.
$FDX above all moving averages within descending broadening wedge.
Risk Reward of 1.6
BEAR BROAD CHANNEL
FDX waiting for SHORT position. Target is @ 144.8.
Fedex Looking short as fundamentals are saying to sell this up right away plus it is rejecting over major resitance
This FDX weekly charts is one of my favourites. When I see a double top it is a very good indication that there will likely be significant downside. Lets see
Read the weekly update by clicking the link below
FDX has started another rally that has more to go short term and long term. We need to move above 185 to end something. We are not there yet thus rally not over. How exactly we will get there is another story.
Short term it appears we need at least another push up but it would look better the way I labeled the climb as shown here on this weekly chart. Doing just ...
Price is retesting the high with great force....Watch for a rejection back down to consolidate before it resumes the uptrend.
Strong Weekly Englufing Pattern. Additionally, MFI indicates a Bullish Divergence. It is showing continued underlying strength
Notes on charts keep it simple
TrendLines and Support/Resistance Areas
Bullish reversal confirmed.
Broke above trend line. Ready to move up if bulls want it bad enough from ER.
Only two earnings plays stick out to me this coming week -- FDX and ORCL, both of which announce earnings on 12/16 (Wednesday) after market close, so look to put on setups before NY close on Wednesday.
Currently, FDX's 52 week IVR is at 54 (IV 34), which isn't stellar, but it's at 92 for the past six months. Moreover, there is pretty good credit to be had ...