OptionsPlay DailyPlay

The bearish DailyPlay we chose for Friday January 29th is FedEx (FDX). FDX is part of the Industrials Sector (XLI). Over the last month, XLI has experienced a 8.74% move lower and it’s 1m and 6m trend turned bearish on 12/31 while breaking below its $51 minor support area.

FedEx’s 1m and 6m trends turned bearish on 1/04 while breaking below its $145 support level on high volume which now becomes resistance. With a technical score of 3 (out of 10), FDX looks positioned to continue this strong bearish trend lower.

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