The US stock Fed Ex is rallying strongly on the higher time frames (monthly and weekly), the daily is a little over-extended now so instead of chasing trades wait for a pull back to higher time frame confluences such as demand, trend line, 20 EMA or flip zones. The new monthly demand at 161.75 is being created and ideally we want a strong extended range candle away from the base which looks to be happening so down there we could see price react nicely and create some potential daily and weekly demand imbalances for us to trade. Long bias on this stock.
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