Bellwether transport stock Fedex is consolidating in a narrow band above the neckline of a double top reversal at $88. Follow-through below $85 would confirm a primary down-trend, warning of a slow-down in the broader economy. Reversal of 63-day Twiggs Momentum below zero would strengthen the signal. Recovery above $90 is less likely, but would suggest continuation of the primary up-trend.
Bellwether transport stock Fedex recovered above the neckline at $88, after completing a double top reversal, but continues to test support at that level. Reversal below $88 would confirm a primary down-trend, warning of slowing activity in the broader economy. Declining 13-week Twiggs Money Flow indicates continued selling pressure.
Bellwether transport stock Fedex completed a double top reversal with a break through the neckline at $88. Retracement found resistance at $90 and reversal below the original neckline at $88 would signal a primary down-trend. Follow-through below Tuesday’s low would confirm. Bearish divergence on 13-week Twiggs Money Flow warns of strong selling pressure. A primary down-trend on Fedex normally warns of slowing activity in the broader economy.
