FDX Possible Trade Set-up (Short)

I'd put FDX on your watchlist and set an alert for a breakout above $96.90. This set up would come under the "False breakout" category.

It happened once in Feb, 2011 and a smaller one on gap resistance in late May. You can see the current trendline, watch for FDX to cross above that area, we can look for a 3C divergence at that point, or just enter a short if the breakout fails and falls back below the trend line. This can happen over the course of several days like t did n February or it can be a 1-day event, breaking through and then dropping back down below.