Fedex Corp. $FDX has been rallying since late December, recovering against bearish price action that accelerated downwards in late 2018. While price has rebounded from $151 to 184.50, the overall structure of price action is still bearish. Furthermore, the rally has been tentative compared to the the sharpness of the bearish swings. This shows us that FDX is vulnerable to another bearish continuation attempt.FDX Daily Chart(click to enlarge)Flag Pattern:- As we can see on the daily chart, price action going up since December has been "weak" compared to the bearish attempts previously.- We can assess the rally as a flag pattern. If there is a break below, we can anticipate bearish continuation. But maybe we should give it some elbow space and focus on the $170 handle as a critical support area. - I think if price falls below $170, it would be a clear breakout, and would be a bearish continuation signal. - However, let's say price holds above $170 this week, and instead pushes above $185. In this scenario, I would anticipate further upside towards $200 and maybe the $208 level, which was a previous support pivot. - Finally, note that the RSI is still holding below 60, which is a sign that the prevailing bearish momentum is still in play.