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S&P 500 Overbought StocksArchive
- 10/4/2024 -
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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 -6.71 points, or -2.51%, and closed at 260.84 on Friday, October 4, 2024. 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 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 (283.27) 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 long-term trend.
 Medium-term trend: [See FDX medium-term trend chart]
A medium-term uptrend had started on February 16, 2024 at 234.46 and reached 313.84 on July 16, 2024. FDX gained -79.38 points, or -33.86%, in 21 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 250.86 and resistance is at 330.33. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See FDX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since September 13, 2024. 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 September 19, 2024 at 308.00 and reached 253.51 on September 20, 2024. FDX lost 54.49 points, or 17.69%, in 1 days. The price is now at the 13.45% 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 September 19, 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.
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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