Fedex corp stock price, formed a doubletop pattern. This pattern consists of the following: the price move higher and is rejected in a resistance (first Top). then it goes down and makes a minimum (neck line) and bounces back to the previous resistance making a second Top and bouncing back towards the neckline and breaking it down. To confirm this pattern, the price should close below the neckline. At this point you should make a short. The profit is the distance between the maximum price and the minimum price.
In some cases you can see a pullback. This could be a second chance to short the stock.
In some cases you can see a pullback. This could be a second chance to short the stock.
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