If you look at our chart of monthly FDX, the big picture hasn't changed, long term the rally is not over and once current correction is done, FDX will move back above 184.
I just don't know now if the sideways action is still a bullish triangle or a bearish one. Both are possibles. Corrections are complex patterns.
As long 166 holds, the current labeling holds...
Since last update, FDX went lower without negating its bullish triangle and now we think it is over. Moving above the upper trendline will confirm that scenario. Target will be published once we get above that resistance.
Although not expected, moving below 170 will mean a bit more weakness towards 160 before moving back up as shown in the monthly chart linked...
FDX appears to be moving sideways in a bullish contracting triangle that should lead to new high pretty soon. Over or not, current price action is choppy and sure looks like as a series of "three's" better labeled as a running triangle ( or a bullish flag ).As triangles precede the last move up within a wave, that would mean once FDX breaks out on the upside one...
I am showing you a nice monthly chart of Fedex not to demonstrate my labeling skill but only to make one point : The bulls are running the parade and it's not over yet. Some might argue that one stock is not a good proxy for the overall equity market but a rising tide lift all boats and I found that stocks with the right look can often be used as a warning signal ...
Expect FDX to open at 168 for a Retest Gap. Watch for close support and resistance. To learn to trade this strategy for free, go to www.RealLifeTrading.com
Based on the EMAs, Resistance 179.69, then down to 144 EMA 175.55 for (1) Support prior to earnings, which can cause a drop to the 377 EMA at 168.17 (Trefis Price 157.-12%) This is an options play set up since the dividend payout is when January Options expire. I'd expect a drop after earnings, then a gradual rise in price before dropping. Gas prices might be...
Fedex Corp is moving within a steady rising trend on all charts – monthly, weekly and daily. There have been gaps in the upward movement over the recent sessions. The RSI is in the steady trend, with no signs of divergence. This means the upward movement continues following correction. As the previous correction was flat, future correction is expected to be deep....
FDX has been moving up since it's 2009 low but took some time to regain the ground lost from the 2007 high - with a long period of consolidation along the way.
Since breaking above the 2007 high ($121.42) late in 2013 price has still struggled to fall into a linear trend. However once price broke - and retested - the $150 zone a smoother trend has developed.
In...
FDX is another one of our preferred trending stocks and has been discussed in our private forum a few times.
Price broke out of the regression trend channel almost 2 weeks ago and continued to trend upward. Yesterday price closed above the resistance level and this has now been placed onto our bullish watchlist.
Wewill wait for a chart pattern to set up any long...
FedEx Corp. hit the record High today, but it still goes higher !
IH&S target (TP 1) had already met at 149.92 area.
Then next IH&S target (TP 2) will be up to 190.18. However it will
have one more leg down (wave 4 correction ) will be possible before
the Final climbing.
Nikita FX (climbingfx.jugem.jp)
FDX one of the constituents of Dow Transportation index recently push the index to all time high (1st high most probably)
I suspect that there would be another high where Fedex's price touches the channel top (blue highlighted area)
Monitoring the uptrend line in both RSI & MACD to see whether supports are provided.
The worst case scenario for the correction...
Another opportunity to buy FDX with CCI @ < -100 (-122 last)
Other trend indicators may be flashing trouble, including the S&P500, but FDX is a great long term play on the growth of the internet and with oil prices weakening recently, bodes well for margins going forward.
Either way, there is decent support just under current levels from the gap & summer...
THIS IS WHAT I CALL A REVERSAL TRIANGLE FORMATION, INSTEAD OF REGULAR TRIANGLES WHICH ARE A CONTINUATION PATTERN, I USE THE DIAGONAL LINE AS A DESCENDING RESISTANCE , SO ONCE THE PRICE TOUCHES THIS RESISTANCE USING CANDLESTICKS AND OTHER INDICATORS I CAN DETERMINE A CHANGE IN THE PREVIOUS TREND.
