๐FedEx looks primed to continue its bullish price action after a 20% pullback from all time highs. There is some resistance to support to watch out for at $258. The short term trend is still bearing, so watch for a break of the descending trend line and a break above $258. The MACD is also curling up for a crossover with bearish volume decreasing on the Daily chart. The last three trading days have seen some good green candles with nice volume. A continuation of the long term trend could see 15% upside, with 6.6% risk (R/R: 2.36). There are some previous levels of resistance from previous price action to be on the look out for. It might be worth noting the median price forecast for FDX is $335.5 which is 33% from current prices.
๐This is not financial advice. Always do your own research and due diligence.
๐This is not financial advice. Always do your own research and due diligence.
ืืคืงืืื ืืืืื:
Support trend line was not he'd, so trade idea cancelled