Submitted by admin on Sun, 12/06/2009 - 09:38
Posted in
FedEx Corp (FDX) has formed a broadening formation which is right-angled and ascending. This is typically considered a bearish formation. However, it appears that the price may have broken out to the upside.
It might be safe to wait another day or so until prices have firmly broken out to the upside. You can generally expect up to a 20% gain with this type of formation once a break out occurs.