This is what I think 🤔 TA FedEx Edition
Tbh, FedEx has been absolute money maker for me in the past few weeks.
I have realised that the current price action is cyclical, with one cycle lasting approximately three months. As seen above, the movement is within the upper and lower trend lines. The overall trend is above Ichimoku Cloud 💭 and both EMA and MA 200, which suggests the continuing Bull sentiment. Almost at each cycle, the absolute top is at the upper Bollinger band of Sigma 2.33. Honestly, You don't need my explanation to see the current pattern. I don't know until when it continues to move like this however, this will likely be the case for the current cycle, which is likely about to end. I am unsure if it will peak above the previous top of 312, but it will likely be above 300. Hence, I have sold my real stock few month ago, and instead invested on the long call options, hoping the same trend still hold true, which actually did.
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I have two long call options, one of which will expire in a few days. It will likely hit 300 soon, but I'm unsure if it will hit before Friday. Therefore, I am considering taking full Profit and letting the other option chase the dream. Once It hits the top, I could enter Put for the next cycle, but not sure at this stage; personally, I am not good at Put options as I have a Bull mindset and my analysis is biased towards Bull sentiment, which can be seen from my poor performance in $Direxion Daily Semiconductor Bull 3x Shares ETF (SOXL.US)$ where I have very large amount of unrelaised loss at the moment - yet I am still bullish (I believe the institutional level of manipulation in semiconductor sector, which is not even funny and I am personally quite furious about it).
I believe the reason for this clear cyclical trend is low trading volume. When I look at the bid and ask price every single day, the spread is way more than other stocks like $NVIDIA (NVDA.US)$ . I believe the same thing happens in $CrowdStrike (CRWD.US)$ , the price action of CRWD has been quite easy for me probably because of lower trading Volume.
Any questions etc let me know down below🤔
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Technical Analyst - No Fundamental 😞
Forever NVIDIA Club ⭐️
Lives and Dies w/ SOXL 🥹
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Jooooohn : When in doubt zoom out.
ひな☆彡 SOXL OP Jooooohn : Having options is like fighting against expiration date due to decay… yeah I believe its going up even further