FEDEX Trapped Logistics is one of the sectors that RT favors. However with oil prices making new highs, FEDEX's prices are suppressed within this channel.
Long term trend is still up and prices have been hovering around 239 and 240 region.
Just waiting for 2 scenarios to play out at the moment.
1. Break below the trendline to test the 220 region
2. Break above 252 to start a new uptrend.
Reflection: Effectively carrying out a well thought out plan equals to making money eventually:)
FDX trade ideas
FDX long possibility
FDX I like because of possible monthly 10sma bounce odds, daily triangle and 60 min consolidation. That 60 min consolidation can bring us smaller stop but we can use that only if Monday open will hold it. First resistance will be $254-255 area and if that will be broken then I will look for possible previous weekly high and action after setup (buying pace) will determine target possibility.
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