Saturday, April 2, 2011

FDX Missed Opertunity

Well here is one I missed FDX just completed a beautiful Inverse Head and Shoulders. On Mar 24th it broke its neck line (pink dotted line) and confirmed the break the next day. My calculations had a target of 96 which was hit on Fri plus it hit a count system I use too. Now where we go from here. I love Fridays candle beautiful shooting star just as we completed the inverse head and shoulder. I think the next move is down because of this candle appearing after a good rally. Come Monday I will be watching this stock and may buy a May 90 put but will wait to see the price action.

Disclaimer: Steelman's Technical Charts are my own amateur interpretations of technical charts and for informational purposes only and should not be construed as investment advice regarding the purchase or sale of securities, or any other financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities mentioned herein. Steelman's Technical Charts assume no responsibility for your trading and investment results.

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