Time to take a ride on FedEx (FDX)? Here’s my take. (December 21, 2018)
FDX SP-500 FDX
FedEx ( NYSE: FDX ). Do you really want to see this stock right now? Because I don’t. If you look at this chart, the time to sell this stock, other than right up here at the very top, which only the liars did, the time to sell is sometime above 158.00, maybe like 210.00 or whatever. But we can’t do anything about that now. If you still own FedEx ( NYSE: FDX ) hopefully it’s only because you bought it this morning or something.
This is a stock that is so deeply oversold. Look at the volume here, massive volume, 15 million shares on Wednesday for FedEx ( NYSE: FDX ). That’s a lot of deliveries man; that’s a lot of stock in the truck. Then over the next couple of days still really, really super high volume but not anywhere near here. So if you look at this what stands out here? To me, this is what stands out. That was the big decline and then I guess this was where they reported earnings and they gave outlook that said, “It isn’t going to be that great.” And so the stock keeps falling.
It was at 240.00 earlier this month and now it is at 158.00. That would be known as a sell-off. At this point, particularly with the rest of the market set up the way it is, I think this is a stock that could probably wind up being bought on Monday. Yes, it’s true, something to buy on Monday. The intraday high, 159.79, we’ll say 160.00 then we don’t have to use the decimal points.
Instead, look at it this way; I want you to set an alert for yourself at 160.00. If the stock starts trading above 160.00 I want you to take that thing for a ride. You go ahead and buy some of that stock and look for some kind of move. Don’t look for much because this market is really, really heavy but it is also deeply oversold. If you can get 2 or 3 points out of this, be happy, take your blood money and go buy your kids something for Christmas.
That’s what I am looking for here. I am looking for some kind of move to the upside. Make sure you have your exit plan. Know where you are going to see just in case you’re wrong, then you go ahead and blame me. If you are going to blame me though, make sure you send me some money if you make it. Otherwise, it is not an even-steven thing.
Free Chart