Shorting FDX

With FDX (Fedex Corp) trading down nearly 3% today, I'm guessing the initial results from Cyber Monday are less than expected. FDX will be added as an Active Short Trade here with the first & final target of T1 at 145.27. Additional targets (T2 & T3) may be extended to this trade should the broad market confirm. The break below both of these uptrend lines (wedges) on the daily chart, along with the bearish technical outlook on the weekly chart, is the primary reasoning for establishing a short position in FDX at this time. Suggested stop over 167.50.

2017-03-08T21:20:08+00:00 Nov 30, 2015 3:43pm|Categories: Completed Trades - Short|Tags: |1 Comment

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