Todd Gordon Weighs In On FedEx And UPS

On CNBC's "Fast Money," Todd Gordon of Ascent Wealth Partners suggested that investors should consider buying FedEx Corporation (NYSE: FDX) and United Parcel Service, Inc. (NYSE: UPS). These stocks are a part of Ascent Wealth Partners' strategy portfolio and Gordon likes them because more products are being shipped during the COVID-19 pandemic.

He is not concerned about the competition from Amazon.com, Inc. (NASDAQ: AMZN) and its last-minute delivery program because it's going to be hard to duplicate the fleet that FedEx and UPS have.

See Also: UPS Option Trader Bets M The Stock's Huge Rally Isn't Over

Gordon sees resistance for FedEx at $200 and he wants to see the stock breaking out above that price level to confirm that it is ready to move even higher.

The break out in UPS has already occurred and it is ripping on the upside. It might meet some resistance around $170, which could cause a minor pullback, believes Gordon.

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