FDX trade ideas
FDX approaching resistance, potential drop! FDX is approaching our first resistance at 183.51 (horizontal pullback resistance, 100% Fibonacci extension, 23.6%, 38.2% Fibonacci retracement) where a strong drop might occur below this level to our first support level at 155.48 (horizontal swing low support).
Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price.
FDX Gap ResistanceBuying some puts here at gap resistance, it will be a short term trade (1 - 3 days).
With the market melting up and people putting money back into their 401k, I'm not taking any big short positions for a while. Looks at all the companies that reported crap earnings.... right back to where they were pre-earnings as if China is their main problem...
This is not a sure bet by any means until the market stops melting up.
FDX Approaching Resistance, Potential Drop!FDX is approaching our first resistance at 183.27 (horizontal overlap resistance, 100% fibonacci extension, 23.6% fiboancci retracement) where a strong drop might occur below this level pushing price down to our major support at 147.90 (horizontal swing low support, 78.6% fiboancci retracement).
RSI (55) is also approaching resistance where we might see a corresponding drop in price.
FDX Approaching Support, Potential Bounce!FDX is approaching support at 183.24 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its resistance at 208.33 (50% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching support at 3.27% where a corresponding bounce could occur.
FDX Approaching Support, Potential Bounce!FDX is approaching its support at 183.24 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially rise up to its resistance at 208.33 (50% Fiboncci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching support where a corresponding bounce could occur.
FDX Testing Support, Potential Bounce!FDX is testing its support at 200.88 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially rise to its resistance at 229.57 (50% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.4% where a corresponding bounce could occur.
Sell FDXDaily dark cloud cover
Stoch looking to be flatline
MACD showing divergence
Chikou span showing lower high, quasi double topish formation... look left!
S/L 227.94
T/P 210.96 used gap to fill on hourly for better R/R, strong structure(support) at these price actions levels also
R/R 1.75
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