The Greedy Trader Weekly Analysis
Sign In Mar 22, 2024
Skip Navigation Links
Share
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Archive
- 3/15/2024 -
Sign In to see current Signals.

FedEx Corporation (FDX) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Overbought sectorTrend support at 253.90Price is near the Fibonacci 38.2% retracement level
Daily :Stochastic signal line moved below overbought areaA Parabolic SAR indicator is above and near the price20 Day Moving Average has crossed above the 50 Day Moving Average
Move cursor over the icon to see details.

It was a fourth consecutive positive week for the FedEx Corporation (FDX). During the week, the FDX gained 5.61 points, or 2.27%, and closed at 253.29 on Friday, March 15, 2024. Weekly volume was -25% below average.

FDX is a member of Industrials Sector. Industrials is the 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 uptrend had started on September 27, 2022 at 141.92 and reached 285.53 on December 18, 2023. FDX gained -143.61 points, or -101.19%, in 63 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (253.90) 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 long-term trend.

Medium-term trend: [See FDX medium-term trend chart]
A medium-term downtrend had started on December 18, 2023 at 285.53 and reached 234.46 on February 16, 2024. FDX lost 51.07 points, or 17.89%, in 8 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

The weekly MACD line is below its signal line since December 22, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 March 12, 2024 at 258.21 and reached 252.33 on March 15, 2024. FDX lost 5.88 points, or 2.28%, in 3 days. The price is now at the 16.33% retracement level.

Daily Technical Indicators: [See FDX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. 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 link to access Lane's Stochastic help.

The daily MACD line is above its signal line since February 20, 2024.

A Parabolic SAR (stop and reversal) indicator (252.12) comes close to the price (253.29). It indicates that the trend is getting weaker. 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 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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) 72.41
Williams' Percentage Range (W%R) 22.50
Lane's Stochastic (%D-Slow) 77.36
Greed/Fear Indicator (GFI) 75.76
Moving Average Converg./Diverg. (MACD) 1.52
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.77
Williams' Percentage Range (W%R) 53.70
Lane's Stochastic (%D-Slow) 44.03
Greed/Fear Indicator (GFI) 43.64
Moving Average Converg./Diverg. (MACD) 1.07
Trading Signals
Description Value Chart
Yearly Trendline Resistance 294.46
Upper Bollinger Band 259.22
Daily Stochastic Crossing 255.29
Yearly Trendline Support 253.90
Price 253.29
Parabolic System 252.12
Weekly Stochastic Crossing 247.14
20 Day Moving Average 247.07
50 Day Moving Average 245.84
Lower Bollinger Band 238.18
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Air Freight & Logistics 12
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 258.21
High Date 03/12/2024
Low 252.33
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 258.21
High Date 03/12/2024
Low 252.33
Low Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 234.46
Low Date 02/16/2024
High 258.21
High Date 03/12/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 285.53
High Date 12/18/2023
Low 234.46
Low Date 02/16/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Support
Resistance 294.46
Support 253.90
Low 141.92
Low Date 09/27/2022
High 285.53
High Date 12/18/2023
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.