The Greedy Trader Weekly Analysis
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- 5/17/2024 -
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FedEx Corporation (FDX) Technical Analysis

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Summary:
Weekly :Weekly  MACD line has moved below its signal lineTrend support at 256.82
Daily :The price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the FedEx Corporation (FDX). During the week, the FDX dropped -8.48 points, or -3.19%, and closed at 257.25 on Friday, May 17, 2024. Weekly volume was -20% below average.

Long-term trend: [See FDX long-term trend chart]
A long-term downtrend had started on May 27, 2021 at 319.90 and reached 141.92 on September 27, 2022. FDX lost 177.98 points, or 55.64%, in 69 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 251.16 and resistance is at 279.98. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.

Medium-term trend: [See FDX medium-term trend chart]
A medium-term uptrend had started on September 27, 2022 at 141.92 and reached 291.27 on March 22, 2024. FDX gained -149.35 points, or -105.24%, in 77 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (256.82) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.

Weekly Technical Indicators: [See FDX weekly technical indicators chart]
Weekly technical indicators are neutral.

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.

Short-term trend: [See FDX short-term trend chart]
A short-term downtrend had started on May 13, 2024 at 268.33 and reached 256.28 on May 17, 2024. FDX lost 12.05 points, or 4.49%, in 4 days. The price is now at the 8.05% retracement level.

Daily Technical Indicators: [See FDX daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since May 13, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 35.42
Williams' Percentage Range (W%R) 76.40
Lane's Stochastic (%D-Slow) 35.51
Greed/Fear Indicator (GFI) 31.51
Moving Average Converg./Diverg. (MACD) -1.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.33
Williams' Percentage Range (W%R) 54.90
Lane's Stochastic (%D-Slow) 41.49
Greed/Fear Indicator (GFI) 46.89
Moving Average Converg./Diverg. (MACD) 4.31
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 301.00
Yearly Trendline Resistance 279.98
Upper Bollinger Band 270.53
Weekly Stochastic Crossing 269.43
Parabolic System 266.64
50 Day Moving Average 266.29
20 Day Moving Average 262.86
Daily Stochastic Crossing 258.60
Price 257.25
Quarterly Trendline Support 256.82
Lower Bollinger Band 254.51
Yearly Trendline Support 251.16
Sector and Industry
Description Name Rank
Sector Industrials 7
Industry Air Freight & Logistics 43
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 268.33
High Date 05/13/2024
Low 256.28
Low Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 291.27
High Date 03/22/2024
Low 255.81
Low Date 05/08/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 234.46
Low Date 02/16/2024
High 291.27
High Date 03/22/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Support
Resistance 301.00
Support 256.82
Low 141.92
Low Date 09/27/2022
High 291.27
High Date 03/22/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Valid
Resistance 279.98
Support 251.16
High 319.90
High Date 05/27/2021
Low 141.92
Low Date 09/27/2022
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.