Rising WedgeRising wedges are most often bearish and are considered a terminal pattern. The pattern is not valid unless price breaks the bottom trendline of the wedge (311.50) and these can be very long term patterns. Both trendlines slope up and converge at the apex. Rising and narrowing wedges represent too much buying without adequate pull backs. This interrupts supply and demand. As a rule, the security will find support at a level within the wedge.
Occasionally, price will fall to a level that is parallel with the bottom trendline of the wedge. If this were to happen, it would put price close to the handle low. I have noted that a strong security rarely falls the full amount from a rising wedge pattern.
Long after fall is complete and FDX is in recovery mode, which could be tomorrow for all I know. I sold this and am waiting, patiently, to buy it back. (o:
Negative volume has decreased significantly.
No recommendation.
Sometimes it feels as if learning to trade is a marathon, and not a sprint (o:
