The bullish DailyPlay we chose for Wednesday Jan 2nd is FedEx (FDX). FDX is part of the Industrial Sector (XLI). Over the last month, XLI has experienced a 2.16% move higher and its 1m and 6m trend has turned bullish on 11/27 and recently broke higher above its $75 resistance level which now becomes support.
FedEx’s 1m and 6m trends turned bullish on 11/29 and recently broke above off its $250 resistance level which now becomes support. With a technical score of 8 (out of 10), FDX is a strong bullish stock that is likely to continue higher.
As a stop loss, if FDX was to trade below $250 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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