As of 09/29/2022
  Indus: 29,226 -458.13 -1.5%  
  Trans: 12,258 -199.22 -1.6%  
  Utils: 906 -38.84 -4.1%  
  Nasdaq: 10,738 -314.13 -2.8%  
  S&P 500: 3,640 -78.57 -2.1%  
YTD
-19.6%  
-25.6%  
-7.6%  
-31.4%  
-23.6%  
  Targets    Overview: 09/15/2022  
  Up arrow32,000 or 29,200 by 10/15/2022
  Up arrow13,800 or 11,800 by 10/15/2022
  Up arrow990 or 900 by 10/15/2022
  Up arrow11,975 or 10,700 by 10/15/2022
  Up arrow3,800 or 3,500 by 10/15/2022
CPI (updated daily): Arrows on 9/13/22
As of 09/29/2022
  Indus: 29,226 -458.13 -1.5%  
  Trans: 12,258 -199.22 -1.6%  
  Utils: 906 -38.84 -4.1%  
  Nasdaq: 10,738 -314.13 -2.8%  
  S&P 500: 3,640 -78.57 -2.1%  
YTD
-19.6%  
-25.6%  
-7.6%  
-31.4%  
-23.6%  
  Targets    Overview: 09/15/2022  
  Up arrow32,000 or 29,200 by 10/15/2022
  Up arrow13,800 or 11,800 by 10/15/2022
  Up arrow990 or 900 by 10/15/2022
  Up arrow11,975 or 10,700 by 10/15/2022
  Up arrow3,800 or 3,500 by 10/15/2022
CPI (updated daily): Arrows on 9/13/22

Bulkowski's Fed Ex 2 Trading Quiz

Released 8/9/2021.

FDX 2: Quiz

Below is a slider quiz to test your trading ability. Captions appear below the pictures for guidance, so be sure to scroll down far enough to read them.

 

1 / 3
chart pattern

What chart patterns can you find? Look for the following (if you find others, great!): Eve & Eve double top, ascending broadening wedge, island top, inverted and ascending scallop, diamond top, symmetrical triangle.

Answers are on the next slide.
2 / 3
chart pattern

Notice how the symmetrical triangle and the wedge form near the same price level. These types of "mirrors" are quite common. Price has pulled back (B) to the broadening wedge.

Question 1: Do you buy or sell short the stock?
Question 2: What is your price target?
Question 3: What is your stop loss price?
See the next slide for answers.
3 / 3
chart pattern

Answer 1 (buy?): CONSIDER shorting once price turns down.

Answer 2 (target?): Since "mirrors" seem to work well with this stock, look on the left side of the chart for a target price. The island top and the valley to the immediate right of it I would use as my target. That would be a low of 76-77, at point A. That's near a site of congestion.

Answer 3 (stop?): The stop depends on how far up price moves. If it goes NO higher, then the combination of the long island (gap at D, down to the prior gap) and broadening wedge mirrors are wonderful resistance areas. I would expect price to reverse there. Thus, I'd use the top of the current price peak, about 86 (point B) as the stop price.

Above is a chart of the future price action. Point B is the suggested stop price once it was clear price was moving down. That didn't happen until price closed below the symmetrical triangle. Point C is a fake breakout (actually, an upward breakout occurred the day after C when price closed outside the triangle borders. Then price busted the pattern (meaning an upward breakout that moved little higher before tumbling and closing below the bottom of the chart pattern. When that happened, it was the sell short signal, and I show it as the green line. Price hit the target range: 76-77.

The End.

See Also

 
Top of page
 

 

Support this site! Clicking any of the books (below) takes you to Amazon.com If you buy ANYTHING while there, they pay for the referral.
Legal notices: "As an Amazon Associate I earn from qualifying purchases." Paid links).

My novels:  Bedroom to Boardroom book Remember Me book Bumper's Story book Head's Law book
My stock market books:  Chart Patterns: After the Buy Getting Started in Chart Patterns 2nd edition book Trading Basics book Fundamental Analysis and Position Trading book Swing and Day Trading book Encyclopedia of chart patterns book Encyclopedia of Chart Patterns 3rd Edition book Trading classic chart patterns book

Copyright © 2005-2022 by Thomas N. Bulkowski. All rights reserved.
Disclaimer: You alone are responsible for your investment decisions. See Privacy/Disclaimer for more information.
Some pattern names are registered trademarks of their respective owners.
Home Advertise Contact Donate Links Privacy/Disclaimer