FDX has been moving up since it's 2009 low but took some time to regain the ground lost from the 2007 high - with a long period of consolidation along the way.
Since breaking above the 2007 high ($121.42) late in 2013 price has still struggled to fall into a linear trend. However once price broke - and retested - the $150 zone a smoother trend has developed.
In the last couple of weeks FDX has gapped up three times on higher volume. While this should indicate strength, to the upside, the move as been most peculiar - each breakout bar has been bearish.
For this reason it may be prudent to wait a while to see how the trend develops. This may mean standing aside until $200 is cleared.
Since breaking above the 2007 high ($121.42) late in 2013 price has still struggled to fall into a linear trend. However once price broke - and retested - the $150 zone a smoother trend has developed.
In the last couple of weeks FDX has gapped up three times on higher volume. While this should indicate strength, to the upside, the move as been most peculiar - each breakout bar has been bearish.
For this reason it may be prudent to wait a while to see how the trend develops. This may mean standing aside until $200 is cleared.