The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Wedge
Number of records: 7
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Chart Analysis and Chart Pattern Recognition – Falling Wedge Pattern.
A falling wedge pattern is a triangle formation with noticeable slant to the downside. It represents the loss of the downside momentum on each successive low and has a bullish bias. The falling wedges pattern usually marks a reversal in a downtrend. In an uptrend, the falling wedge pattern is considered as a continuation pattern. As with other triangle formations, volume usually diminishes as price rise and then increases during the breakout.
Falling Wedge Screening page presents a list of stocks forming Falling Wedge Pattern.
Tips:
# 1
To confirm the loss of the downside momentum at the reversal point, see bullish divergence on technical indicators.
# 2 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
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FedEx Corporation (FDX)

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtStochastic has declined below the signal line
Daily :Broken trend support lineWilliams' Percentage Range is overbought
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It was a first positive week for the FedEx Corporation (FDX). During the week, the FDX gained 3.36 points, or 2.04%, and closed at 168.40 on Friday, July 31, 2020. FDX was trading at average weekly trading volume.

FDX is a member of Industrials Sector. Industrials is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See FDX long-term trend chart]
A long-term downtrend had started on January 18, 2018 at 274.66 and reached 88.69 on March 17, 2020. FDX lost 185.97 points, or 67.71%, in 112 weeks. The price is now at the 42.86% retracement level.

Medium-term trend: [See FDX medium-term trend chart]
A medium-term uptrend had started on March 17, 2020 at 88.69 and reached 174.50 on July 30, 2020. FDX gained -85.81 points, or -96.75%, in 19 weeks. The price is now at the 7.11% retracement level.

Weekly Technical Indicators: [See FDX weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 22, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See FDX short-term trend chart]
A short-term uptrend had started on June 26, 2020 at 129.28 and reached 174.50 on July 30, 2020. FDX gained -45.22 points, or -34.98%, in 34 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (169.59) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a short-term trend.

Daily Technical Indicators: [See FDX daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

The daily MACD line is below its signal line since July 27, 2020. The distance between MACD and the signal line is low, but getting bigger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.50
Williams' Percentage Range (W%R) 12.00
Overbought
Lane's Stochastic (%D-Slow) 74.12
Greed/Fear Indicator (GFI) 76.54
Moving Average Converg./Diverg. (MACD) 7.28
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.40
Williams' Percentage Range (W%R) 2.90
Strong Overbought
Lane's Stochastic (%D-Slow) 89.71
Overbought
Greed/Fear Indicator (GFI) 83.56
Overbought
Moving Average Converg./Diverg. (MACD) -1.67
Trading Signals
Description Value Chart
Weekly Trendline Resistance 172.33
Upper Bollinger Band 171.81
Weekly Stochastic Crossing 171.31
Daily Stochastic Crossing 170.94
Weekly Trendline Support 169.59
Price 168.40
Parabolic System 164.92
20 Day Moving Average 163.49
Lower Bollinger Band 151.70
50 Day Moving Average 146.89
Sector and Industry
Description Name Rank
Sector Industrials 8
Industry Air Freight & Logistics 120
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 174.50
High Date 07/30/2020
Low 167.99
Low Date 07/31/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 172.33
Support 169.59
Low 129.28
Low Date 06/26/2020
High 174.50
High Date 07/30/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 127.29
Low Date 06/15/2020
High 174.50
High Date 07/30/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 88.69
Low Date 03/17/2020
High 174.50
High Date 07/30/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 274.66
High Date 01/18/2018
Low 88.69
Low Date 03/17/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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