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Couriers load packages onto vehicles as other packages move down the belt at the Marina Del Rey, California FedEx station. (© Fred Prouser / Reuters/REUTERS)
Couriers load packages onto vehicles as other packages move down the belt at the Marina Del Rey, California FedEx station. (© Fred Prouser / Reuters/REUTERS)

What the Charts Say

Bullish on FedEx Add to ...

FedEx Corp. declined from $115.38 (U.S.) in 2007 (not shown) to $34.02 in 2009 (A) followed by a recovery rally to $97.75 (B) and a horizontal trading range mostly between $69 and $98 (B-C). This price action produced a bullish technical pattern known as a V-Extended formation (dotted lines). The recent move confirmed the breakout (D). FedEx is currently overbought and a better entry point may occur near $94-$95, but only a decline below about $90 would be negative.

More Related to this Story

Point & Figure measurements provide initial targets of $114 and $124. The V-Extended pattern (dotted lines) supports higher targets.

Monica Rizk is the senior technical analyst for Phases & Cycles Inc. (www.phases-cycles.com). Ron Meisels is a contributor to the www.NA-marketletter.com website and Tweets at @Ronsbriefs. They may hold shares in companies profiled. Please see the site for a glossary.

Follow us on Twitter: @Monicarizk1, @RonsBriefs

 

FedEx

5 Year Performance

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FDX-N 150.86 -1.64 -1.075 %

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Security Price Change
FDX-N FedEx 150.86 -1.64
-1.075 %
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