FedEx May Deliver Some Quick Profits
by Chris Johnson and Jon Lewis 09/09/09
Don't look now, but FedEx (FDX) is trading at a nine-month high. In fact, the stock has more than doubled off its March low. That bodes well for the economic recovery, as FedEx is considered a bellwether for the health of commerce.
A look at the technicals shows the stock appears to be emerging from some stickiness around the $70 level. That's where the shares peaked in early August and where they found tough going last week.
But with the help of support from the 20-day moving average, the shares are once again on the move.
We see the next area of possible resistance at $75, the strike of peak call open interest in the September series (heavy call strikes often define tops).

More By This Expert
With several major retailers reporting earnings next week, we have one retail stock you should avoid and one that looks like it's going to be a highflier.
Omnicare Bulls: What Are You People Smoking?
With analysts and options traders in love with pharmaceutical company Omnicare (OCR), we have to ask, is anyone looking at the same chart we are?
Cephalon: A Tough Pill to Swallow
Cephalon (CEPH) looks like a textbook bearish case of lousy technicals, questionable fundamentals and misplaced optimism -- which could lead to a very profitable put play.
Campbell Soup (CPB): Mmm, Mmm Good?
With analyst expectations muted heading into its earnings report, will Campbell be able to serve up some profits?
MOST POPULAR
- What's Hot: DELL, DHI November 20, 2009
- Sidewinder: MCD, DKS, JPM November 20, 2009
- Options News: SII November 20, 2009
- Sidewinder: CY, ADSK, KG November 19, 2009
- Options for Dummies November 19, 2009




