Since last update, FDX went lower without negating its bullish triangle and now we think it is over. Moving above the upper trendline will confirm that scenario. Target will be published once we get above that resistance.
Although not expected, moving below 170 will mean a bit more weakness towards 160 before moving back up as shown in the monthly chart linked below.
In the event we are right and and are indeed sprinting out of a triangle, that would be quite foretelling for the future as triangles are structures preceding the last move in a sequence. For FDX we think that sequence started in late 2012 and once over one has to expect a multi-month choppy correction.
Although not expected, moving below 170 will mean a bit more weakness towards 160 before moving back up as shown in the monthly chart linked below.
In the event we are right and and are indeed sprinting out of a triangle, that would be quite foretelling for the future as triangles are structures preceding the last move in a sequence. For FDX we think that sequence started in late 2012 and once over one has to expect a multi-month choppy correction.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.