$FDX powers through resistance in “Go” trend

$FDX powers through resistance in “Go” trend


February 2023


Alex Cole

$FDX has been in a “Go” trend since early November of last year.

We saw the trend emerge as price climbed above the lower bound of the huge gap down that happened in mid September.   A steady climb since then saw price rally all the way to the top of the gap where it initially found resistance.  This week we have seen GoNoGo Oscillator break out of a small GoNoGo Squeeze into positive territory on heavy volume and this momentum surge in the direction of the trend gave another Go Trend Continuation Icon (green circle).  This helped give price the push it needed to burst through resistance and continue climbing yesterday.  Momentum is now overbought and we will see if there is a pullback.  If GoNoGo Oscillator falls back to the zero line we will look for support there and further signs of trend continuation.

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