FDX over 253.19Oversold bounce play, look for a reversal pattern and daily close over the breakout level. Good for a swing as well. Stop loss is a lower daily low.
FDXD trade ideas
Fedex For a Swing TradeGood morning everyone. Now I don't consider myself anywhere near as experienced as the other members here, but here is why I'm swinging fedex this week.
-Price level has reached a significant volume week we had on the ascend prior to this large pullback, I highlighted this area. I'm trusting this level will at least bring some action due to longs adding to those positions, shorts taking their gains from the recent weeks, and new investors finding this pullback attractive here.
-The RSI is bouncing on those previous RSI levels too - see the RSI indicator trendline I've inserted for you.
-UPS had a pretty nice gain yesterday too with +2%, this may bring attention to FedEx as traders see this while scanning their gainers and losers afterhours.
-So, I decided to jump into FDX for an option swing on yesterdays lows. I purchased 10 February 19th/300 strike.
Goodluck everyone, and again I'm loving this group and platform. Very friendly and very well organized.
Pull Back Fishing??Or is it time yet?
FDX had a very steep rise and it appears some of the folks are getting off the boat..Looks to be forming a megaphone pattern. MP patterns tend to reverse price swings after 5 swings within the pattern. They usually either break up or break down. It is a broadening wedge formation. May be another swing up but only time will tell.
I am afraid of heights, so not getting on up here
Neutral
BUY $FDX - NRPicks Ene 10FedEx pioneered overnight delivery in 1973 and remains the world's largest "express" package provider. In its fiscal 2020 (ended May 2020), FedEx derived 51% of revenue from its express division, 33% from ground, and 10% from freight; its asset-based less-than-truckload shipping segment.
The company gained a lot of interest from COVID-19, the confinement made the company generate more revenue and have better results. Since early december, the stock price has started to fall due to poor sales projections; however, there is still no 100% confirmed cure and the instability that the new virus strain may cause could favor its future.
Fundamentals:
- Growth
- P/B 3.1x VS 3.1x industry
- 10.6% estimated growth in net earnings for the next 3 years
- ROE 17% vs. 11.4% industry
Technicians:
- Price level above SMA 250-200-150
- Williams R% at -77% levels
- RSI (30) Oversold
- 11% average upside during the month
After a 19% correction from December 9th to January 8th, we can see that the sale was stopped on a $243 support. From this point on, the stock presented a reversal, the RSI is favorable and the stock is well below its medium term moving average.
FDX invalidation of previous 1-2 start, waiting on confirmationNext Fibb support is 246 on FDX, looking for a hold of support and consolidation, followed by a 1-2 start to the upside. Got stopped out back at 260.
Disclaimer: The proceeding content is informational only and based on information available when created. It is not an offer or a solicitation nor is it tax or legal advice. It does not consider your financial circumstances and objectives and may not be suitable for you.
Copyright Rohan Karunaratne 2020
Market Review #26 Jan 4th 2021 - Qs, GLD, SLVOn today's video, we look at QQQ, TQQQ, VIX, GLD, and SLV, and overall how we see the market shaping out over the next couple of weeks.
Disclaimer: The proceeding content is informational only and based on information available when created. It is not an offer or a solicitation nor is it tax or legal advice. It does not consider your financial circumstances and objectives and may not be suitable for you.
Copyright Rohan Karunaratne 2020
FDX needs to hold above previous low around 256Any break below 256 is the invalidation point to our macro 1-2 start, and could suggest further downside. Labelled in white is the potential bullish count, that would start in a 1-2 pattern. If we can see that, this could suggest a new trend that is filling out our wave 3 target to 356. I am personally stopped out, waiting for some consolidation around the current price (again, holding above the 256 level), or a 1-2 start.
Disclaimer: The proceeding content is informational only and based on information available when created. It is not an offer or a solicitation nor is it tax or legal advice. It does not consider your financial circumstances and objectives and may not be suitable for you.
Copyright Rohan Karunaratne 2020
FDX: potential 290 H&S target by Jan 20A potential Head and Shoulders formation on FDX that needs to confirm this new year. Nice consolidation this past month and I think this ticker is ready to move to complete the last shoulder here before a continuation move up with earnings to the upside on the back of holiday shipping revenue.
Again, if the market cooperates, this could be a nice opportunity to the upside.
But it is in a great buying opportunity range under 260.00 There was a long red wick on the weekly chart on the ninth of November,
meaning a future down trend, at least in my opinion it does,
Plus it broke my white support line.
So it’s going under 262.00 to 258.40 or maybe 255,
But it’s in a great buying opportunity range under 260.00.
Happy Holidays, and safe trading everyone.
