FDX is an a downtrending channel established in July. The stock has come up and bounced down off resistance and is headed back down. MACD and stochastics are both high and heading lower.
The stock is currently at $105.01. Current support is around $99, and resistance is at $107.50.
Exit strategy:
- Market order to sell if the stock trades above $107.50
- Stop loss order at $2.40 on the option
- Trailing stop loss (trailing by $0.25) if the stock trades below $100.
