FedEx Volatility: Three Strikes And You're Out
Following Thursday's after-hours dire worldwide recession warning by FedEx CEO, its stock (FDX) plunged this morning.
FDX has a history of volatile parabolic spikes and plunges. In fact, it had difficulty, twice, in holding any gains above 120.00 since it broke above in September 2013, as shown on the following monthly chart. Price is heading back to that level for a third time, as I write this post.
A drop and hold below 120.00 could see it hit its next major support level of 80.00, or lower.
If this is a harbinger of things to come, it will confirm that world markets are in for a very rough ride (as I first reported on July 26 and later updates).
ZeroHedge excerpt
ZeroHedge excerpt
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Disclaimer: All of my posts (and charts) contain solely my own technical analyses/opinions/observations (which may contain errors or omissions) of a variety of markets and are ...
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