Figure 1 is a monthly chart of FDX. FDX has made a round trip and now trades back to its 2003 break out point. FDX has already probed below these levels and is showing no signs of stabilizing. FDX should be an early cycle stock in that it should be a leader as the economy turns. For FDX, this is not a launching pad to a new bull market.
Figure 1. FDX/ monthly
Figure 2 is a monthly chart of TXN. The September, 2002 lows are being probed, and this seems like a good place for a bounce. I am not sure why TXN should be up and FDX be down when the news is similar. As we all know, the market has it ways. Maybe the technicals are offering some clarity.
Figure 2. TXN/ monthly
No comments:
Post a Comment