The Greedy Trader Weekly Analysis
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Downtrend Resistance
Downtrend Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Downtrend Resistance stock alert indicates that price is near long-term resistance trendline and probability of short-term trend reversal is high.

The strategy is based on selling long (or taking short) position on downtrend testing resistance. The strategy has low to medium risk and average reword.

Downtrend Resistance

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- 12/13/2024 -
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FedEx Corporation (FDX) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support lineTrend support at 280.66
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldStochastic has raised above the signal line
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It was a first positive week for the FedEx Corporation (FDX). During the week, the FDX climbed 2.72 points, or 0.97%, and closed at 283.40 on Friday, December 13, 2024. Weekly volume was -36% 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 313.84 on July 16, 2024. FDX gained -171.92 points, or -121.14%, in 94 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (296.76) 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 uptrend had started on September 20, 2024 at 253.51 and reached 308.50 on November 25, 2024. FDX gained -54.99 points, or -21.69%, in 9 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (280.66) 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.

The weekly MACD line is above its signal line since November 15, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend 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 November 25, 2024 at 308.50 and reached 277.75 on December 6, 2024. FDX lost 30.75 points, or 9.97%, in 11 days. The price is now at the 18.37% retracement level.

Daily Technical Indicators: [See FDX daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 daily MACD line is below its signal line since December 2, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 29.30
Williams' Percentage Range (W%R) 81.90
Oversold
Lane's Stochastic (%D-Slow) 16.83
Oversold
Greed/Fear Indicator (GFI) 21.39
Moving Average Converg./Diverg. (MACD) 1.08
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.14
Williams' Percentage Range (W%R) 45.80
Lane's Stochastic (%D-Slow) 65.92
Greed/Fear Indicator (GFI) 55.37
Moving Average Converg./Diverg. (MACD) 3.85
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 332.09
Weekly Trendline Resistance 323.38
Upper Bollinger Band 304.15
Quarterly Trendline Support 296.76
Weekly Stochastic Crossing 294.28
20 Day Moving Average 290.51
Parabolic System 290.19
Price 283.40
Weekly Trendline Support 280.66
50 Day Moving Average 280.44
Daily Stochastic Crossing 279.33
Lower Bollinger Band 268.03
Sector and Industry
Description Name Rank
Sector Industrials 10
Industry Air Freight & Logistics 52
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 308.50
High Date 11/25/2024
Low 277.75
Low Date 12/06/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Support
Resistance 323.38
Support 280.66
Low 253.51
Low Date 09/20/2024
High 308.50
High Date 11/25/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 313.84
High Date 07/16/2024
Low 253.51
Low Date 09/20/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 332.09
Support 296.76
Low 141.92
Low Date 09/27/2022
High 313.84
High Date 07/16/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 88.69
Low Date 03/17/2020
High 319.90
High Date 05/27/2021
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.