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.
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