FedEx Wave Analysis – 14 May, 2020

• FedEx broke the support zone

• Likely to fall to 100.00

FedEx recently broke the support zone lying between the key support level 107.50 (low of the previous correction B from April) and the 61.8% Fibonacci correction of the upward impulse from March.

The breakout of this support zone accelerated the active impulse wave C of the intermediate ABC correction (B) from April.

FedEx is likely to fall further toward the next round support level 100.00 (likely price for the completion of the active impulse wave C).