With the indicators the way they are, here's the stand I would take for now.
I would probably rather play this name from the short side, but the risk must be contained.
Drive and trade cautiously.
ACN could weaken further over the next several weeks.
A defensive approach is warranted now.
Upside price momentum has slowed.
The charts and indicators of the auto parts retailer are in pretty good shape, but market weakness could drag down its stock.
I think that Jerome Powell actually believes he is accomplishing something...by doing nothing.
I don't find any reasons on the charts to change our current strategy ahead of earnings.
Let's take a fresh look at the FDX charts.