Look for Shares of Fedex Corp to Potentially Rebound after Yesterday's 1.47% Sell Off
Fedex Corp (NYSE:FDX) traded in a range yesterday that spanned from a low of $280.54 to a high of $290.90. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $285.30 on volume of 672,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
In the past 52 weeks, shares of Fedex Corp have traded between a low of $88.69 and a high of $296.08 and are now at $283.67, which is 220% above that low price. The 200-day and 50-day moving averages have moved 1.46% higher and 1.40% higher over the past week, respectively.
SmarTrend is monitoring the recent change of momentum in Fedex Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Fedex Corp in search of a potential trend change.
Write to SmarTrend at cs@mysmartrend.com
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