Shares of FedEx Corp (FDX) are surging again today, up over 3%. After bottoming out in March 2020 below $89, FedEx has surged to a high today of $270.10. This has been an epic move of over 200%. While amazing, sellers and shorts may get their major technical level with the FedEx stock chart double top at $273.50. This is the major pivot high from late 2017 and will likely cause a retrace in the stock to $225.00. The trade here is simply, look to short the stock at $273.50 with a downside target of $225.00. This target will likely be tagged in late 2002 or early 2021. This FedEx stock chart double top is a fantastic risk/reward trade.
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