CFD Trading – Buy Fedex Corp (FDX.NYS) @ $270.10. Stop @ $259.50 and Target @ $285.50.

Fedex Corp Stock Code FDX.NYS

Price broke above the cloud last Friday and managed to close above the cloud. Last Friday’s breakout could signal the end of a price correction starting from the high of $304.20 on 9 December 2020. Conversion and Base lines had a bullish crossover earlier, hinting of the bullish price trend. Lagging Span is above price of 26 days ago but below the cloud, hinting of a weak bullish trend. MACD has turned bullish with both lines above the zero line. Both of MACD’s lines are also moving higher. We think price could test the gap resistance at $285 within the next 2-3 weeks.

$270.10              Buy
$285.20             Price Target
$259.50             Risk Management Stop
3 weeks              Trade Duration

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