On the 15min chart, FDX seems poised to extend a bullish trend. If you ride this, watch out for the resistance at 255. Should that break, then check the other resistances above for possible rejection.
Near ER, we may see the trend change or halt. If it’s still a few days ahead, it may be possible to ride the new trend (probably downside). Best to secure gains before Market Close of Dec 16.
If bad news start pumping next week, then PUTs may be at play.
There are huge gaps between possible supports from 216 to 162.
What other things must we consider here?
Let hear it in the comments.
I played FedEx in September and have been looking for reason to play it again. Purely based on fundamentals and how the market is acting is what I will go in with. Will add to this just saying FedEx was good to me in the past. As always @rexxxar amazing on tech and strategy, really learning from your DD. I feel like I’m looking inside of Tron, complete mind blowing on the analytics. Thanks
Fantastic DD. Shipping/freight/gas/transportation costs/inflation have all risen significantly in the months detailed by their upcoming ER. However I’m not convinced on put plays because FedEx is one of the companies that has inflationary and supply chain pricing power. If you’re delivering goods or documents to your customers or clients, you’ll pay FedEx no matter how much they upcharge you.
For someone who has the capital selling puts or long straddle and close on ER day might be a decent lower-risk, lower-reward play.
FedEx pulled an RH move for ER and now losing some of the gains after open.
I still don’t think this is a good entry for longs, if I’m reading the chart correctly.
Expecting a mover further down 216, before I look at it again–unless of course if it moves much higher from here.
I’ll keep it on my watchlist for next ER, but admins might close this thread today.
If you played this correctly, congratulations.
Reading the chart once again, this may actually be a bit bullish in the short term (1month).
On the Daily chart, we may see it break past all the resistances marked in pink, before slumping back down.
I’m watching the Weekly chart for either a break above 274, in which case a rally for 293-305 channel will be very likely.
Either that or some dire market news pushes it back down to my prior and more bearish idea of 216.
I’ll probably take a position post Christmas or right at the beginning of January 2022.
