FedEx Corp (US: FDX) steady rise had come to a halt in December after meeting our target price based on our report dated 16th November 2020. Recent technicals indicate that the stock is looking at another upside after a long bout of correction for more than a month:
*Timeline of the trade is 3 weeks from the date issued.
*Should US$260.00 fails to break, the next support zone to be tested for a rebound will be at US$240.66-US$243.42.
CHART LEGENDS
Ichimoku Kinko Hyo
Red dotted line = 9 Periods Tenkan-Sen
Blue dotted line = 26 periods Kijun-Sen
Green Line B= 52 periods Senkou Span B
Pink Line A = 26 periods Senkou Span A
Black line = 26 periods Chikou Span. Lagging line
Wei Ren specialises in Technical Analysis and has 11 years of experience in studying classic technical price action. He also study and research extensively on Elliott wave theory, Dow Theory. He believes that history plays an important role in how the market is reflected in the future.