(Recorded on 09/21/21) Topics covered on this video coaching call In this special video update, trading coach Jerry Robinson discusses the unfolding Evergrande debt situation, the U.S. debt ceiling debate, this week’s Fed meeting, and more. Included in this video:...
GLOBAL SHIPPING SLOWDOWN
CHART: Fedex Sell Signal Spells Trouble For Global Shipping Market
From the above chart you can see that our trading system issued a long-term buy signal on Fedex back in January 2012. The stock soared 90% before finally giving us a new long-term sell signal last month. Our sell signal coincided with Deutsche Bank slashing its price target on the company.
In addition, Zacks.com has issued a sell rating on Fedex.
The company’s slowdown is largely due to weakness in its international shipping division, which confirms all other indicators that point to a growing global economic slowdown.
By itself, a long-term sell signal on Fedex would not be so concerning. But when it is coupled with all of the other poor economic data coming in from around the globe, it serves to validate our greater concerns regarding global economic weakness.
In short, we expect more pain ahead. Be prepared.
P.S. Get instant access to our entire list of new long-term buy signals and sell signals, updated every evening with our powerful Profit Trakker system. Learn more here.
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