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Archive
- 6/7/2024 -
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FedEx Corporation (FDX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the FedEx Corporation (FDX). During the week, the FDX dropped -6.23 points, or -2.45%, and closed at 247.73 on Friday, June 7, 2024. Weekly volume was -39% below average.
 Long-term trend: [See FDX long-term trend chart]
A long-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 uptrend support line (260.68) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. FDX may retest the broken support line. It is considered to be a resistance line now. 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 long-term trend.
 Medium-term trend: [See FDX medium-term trend chart]
A medium-term downtrend had started on March 22, 2024 at 291.27 and reached 244.26 on June 4, 2024. FDX lost 47.01 points, or 16.14%, in 10 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 246.41 and resistance is at 254.87. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See FDX weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. 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 weekly MACD line is below its signal line since May 10, 2024. This is an indication that the medium-term trend is down. 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 244.26 on June 4, 2024. FDX lost 24.07 points, or 8.97%, in 22 days. The chart has formed a Descending Triangle chart pattern.
 Daily Technical Indicators: [See FDX daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Industrials |
3 |
| Industry |
Air Freight & Logistics |
61 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Descending Triangle |
| High |
268.33 |
| High Date |
05/13/2024 |
| Low |
244.26 |
| Low Date |
06/04/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Valid |
| Resistance |
254.87 |
| Support |
246.41 |
| High |
291.27 |
| High Date |
03/22/2024 |
| Low |
244.26 |
| Low Date |
06/04/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
234.46 |
| Low Date |
02/16/2024 |
| High |
291.27 |
| High Date |
03/22/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Support |
| Resistance |
303.09 |
| Support |
260.68 |
| Low |
141.92 |
| Low Date |
09/27/2022 |
| High |
291.27 |
| High Date |
03/22/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
319.90 |
| High Date |
05/27/2021 |
| Low |
141.92 |
| Low Date |
09/27/2022 |
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