Fedex has broken out of its downtrend from 2018 and has had a MACD crossover on the monthly chart. Volume looks strong but is waning now that it is in overbought territory on the RSI. A rejection off of the 1.618 retracement level and a retest of a strong support level may give a good entry point for a long position. I will be patiently waiting for the pullback for proper entry.
As always, I am not a financial advisor and this is not financial advice. Do your own research and formulate your own theories. Good Luck!
As always, I am not a financial advisor and this is not financial advice. Do your own research and formulate your own theories. Good Luck!