I like fedex here, these are my thoughts:
There is a huge support line that goes from 2014-12-08 to today, so this is very strong. From the beginning to 2016-11-14, that was a nice resistance line but since the breakout of that resistance line, it became a support. The stock broke out that resistance line with strength, then came back at the support line and made a nice bounce. One week later, the stock came back again and it bounced again for a nice uptrend. So today, the stock came at the support line for the third time, bounced and finished the day with a nice hammer, a candle that is very bullish. So the fact that there is a nice support line and that the candle is very bullish, i am expecting a move on the upside. This stock did the same thing as the market: It gap down a lot, continue to move down, bounced at the support line and finished the day very close to the high so that shows that bulls finished the day with the power and control.
There is a huge support line that goes from 2014-12-08 to today, so this is very strong. From the beginning to 2016-11-14, that was a nice resistance line but since the breakout of that resistance line, it became a support. The stock broke out that resistance line with strength, then came back at the support line and made a nice bounce. One week later, the stock came back again and it bounced again for a nice uptrend. So today, the stock came at the support line for the third time, bounced and finished the day with a nice hammer, a candle that is very bullish. So the fact that there is a nice support line and that the candle is very bullish, i am expecting a move on the upside. This stock did the same thing as the market: It gap down a lot, continue to move down, bounced at the support line and finished the day very close to the high so that shows that bulls finished the day with the power and control.
