Fedex $FDX has been in a major correction since early 2018, when price per share peaked at $274.38. It came down to almost $150 per share in December before rebounding. The rebound has been significant, with price closing at $175.90 after the 1/22 session. I think price is now approaching key resistance, which can be seen in the $184-$185 area.FDX Daily Chart(click to enlarge)Pullback:- On the daily chart, we can see that the pullback has lasted for about a month. - We can also see that around $184.50, price stalled before capitulating further.- Furthermore, the RSI is approaching 60. If the overall mode is still bearish, the RSI should hold below 60. Resistance Levels:- On the weekly chart, we can see that $184-$185 involves a key support/resistance pivot. - We should therefore expect resistance here. - However, if price pushes above $185, we might see it push to $200-$205, which is the next key support/resistance pivot area and a psychological level.- I would cap the bullish outlook to $200 for now because the prevailing bearish swing was so sharp, and the overall market sentiment is still tentative so we can go back into market contraction mode any time. Downside:- If price does hold under $185 and falls back to $150, I would anticipate further downside towards the $120-$130 area, which represents a key support/resistance pivot area going back to 2006. - This is also where I would cap the bearish outlook.FDX Weekly Chart(click to enlarge)