Yesterday, the Dow Jones Transportation Index ETF (NYSE:IYT) closed sharply higher making a new five month high. The IYT has rallied higher by $23.00 since the ETF traded as low as $70.81 a share on October 4, 2011. Short term traders can watch the IYT to have intra-day support around the $93.75 and $93.00 levels.
This morning, FedEx Corp (NYSE:FDX) is trading lower by $1.22 to $91.82 a share. This leading transportation stock is finally pulling back a little from an overbought condition on the daily chart. FDX stock will have intra-day support around the $91.75, and $91.00 levels.
NIcholas Santiago
InTheMoneyStocks.com
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InTheMoneyStocks.com is a research and consulting company focused on guiding investors, swing traders and day traders to financial success. Their Chief Market Strategists analyze the markets while making calls on everything from stocks to commodities and currencies. Their goal is to not only guide their subscribers but also teach them their proprietary methods leading them to become investing and trading masters.
Nicholas Santiago
