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Wait for a correction to buy FedEx.

Wait for a correction to buy FedEx. | 12 April 2019

Gazprom,weekly

 Wait for a correction to buy FedEx.

Technical observation

The commodity on the weekly chart above was rejected within a supportive zone 150.60-149.14, it then rose steadily towards a key line 173.37 and  i still expect more of this movement to the line this week and the following week, should there be a clear breach above 173.37, more bullish momentum of Gazprom can be anticipated. As long as this commodity is contained above the supportive zone 150.60-149.14, only long positions look ideal and may be recommended, short positions may only be advisable in case of a clear breakout below 150.60-149.14 with a big red candle followed by a correction to it and a rejection within it.

Trade recommendation

 

Remain long with your take profit at 173.37 and stop loss at 143.31.

FedEx, weekly

Wait for a correction to buy FedEx.

Technical observation

The value of the commodity on the chart above went above a resistance zone 183.59-180.02 with  a big green candle, we expect a pullback to the just broken zone followed by a rejection and a bounce within it for possible upwards movement towards the line 227.00 or even higher to 266.84, I would advise you wait for a retracement to the just broken zone and a rejection within it  to pick long positions with your take profit at 227.00 and stop loss at 167.24.In case of a penetration above 227.00 continue long with this commodity toward the level 266.84 after a correction to the just broken line and a bounce at it.

Trade recommendation

Wait for a correction to 183.59-180.02 to buy FedEx.

#IBM,weekly

Wait for a correction to buy FedEx.

Technical observation

The value of the commodity on the weekly chart above rose above a resistance zone 141.74-139.42 and is still rallying above it. I expect a pullback to the just broken zone followed by  a rejection within it for possible bullish movements towards the key level 172.81 and a possible break above the line for a further rise towards the highest key line 200.17, my advice, wait for a correction to  141.74-139.42 a rejection within it to buy #IBM with your take profit at 172.81  and stop loss at 132.12, continue long with this commodity in case of breach above 172.81 with a big green candle followed by a correction to and a rejection at it.

Trade recommendation

Wait for a correction to 141.74-139.42 to buy #IBM.

Imelda Maseno
Analyst of «FreshForex» company
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