Good morning everyone. Now I don't consider myself anywhere near as experienced as the other members here, but here is why I'm swinging fedex this week.
-Price level has reached a significant volume week we had on the ascend prior to this large pullback, I highlighted this area. I'm trusting this level will at least bring some action due to longs adding to those positions, shorts taking their gains from the recent weeks, and new investors finding this pullback attractive here.
-The RSI is bouncing on those previous RSI levels too - see the RSI indicator trendline I've inserted for you.
-UPS had a pretty nice gain yesterday too with +2%, this may bring attention to FedEx as traders see this while scanning their gainers and losers afterhours.
-So, I decided to jump into FDX for an option swing on yesterdays lows. I purchased 10 February 19th/300 strike.
Goodluck everyone, and again I'm loving this group and platform. Very friendly and very well organized.
-Price level has reached a significant volume week we had on the ascend prior to this large pullback, I highlighted this area. I'm trusting this level will at least bring some action due to longs adding to those positions, shorts taking their gains from the recent weeks, and new investors finding this pullback attractive here.
-The RSI is bouncing on those previous RSI levels too - see the RSI indicator trendline I've inserted for you.
-UPS had a pretty nice gain yesterday too with +2%, this may bring attention to FedEx as traders see this while scanning their gainers and losers afterhours.
-So, I decided to jump into FDX for an option swing on yesterdays lows. I purchased 10 February 19th/300 strike.
Goodluck everyone, and again I'm loving this group and platform. Very friendly and very well organized.