$FedEx (FDX.US)$ Rebound or Breakdown? The long-term technical picture for FDX is looking quite appealing. The price action has been almost perfectly following the support and resistance of the price channel seen in the chart below. If this trend continues, then we will see a rebound in the charts very soon and a long position could be a good idea. If we don't see a rebound at support and the price action makes lower lows, then a long position might be a bad idea at that...
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ThirtyOne
:
I haven’t. I also have never really considered or thought about it. I definitely need to add FedEx and UPS to my list.
SpyderCall
OPThirtyOne
:
there are a lot of transportation/shipping companies that are solid long-term investment choices. Especially FedEx. When you think about it, transportation companies are like the life blood of a growing economy. I mean, goods and services in an economy must be transported from point A to point B. So following transportation companies are a good gauge into the health of an economy. That is why the dow jones transportation average is a good indicator of the health of the US economy.
ThirtyOne
SpyderCall
OP
:
I completely agree 100%. Definitely something I will add to my long term accounts at the right time. I’m about to look at these charts now.
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Direxion Daily Transportation Bull 3X Shares Stock Discussion
Rebound or Breakdown?
The long-term technical picture for FDX is looking quite appealing. The price action has been almost perfectly following the support and resistance of the price channel seen in the chart below.
If this trend continues, then we will see a rebound in the charts very soon and a long position could be a good idea. If we don't see a rebound at support and the price action makes lower lows, then a long position might be a bad idea at that...
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