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Advanced TA SearchArchive
- 4/19/2024 -
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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 gave back -0.81 points, or -0.30%, and closed at 266.99 on Friday, April 19, 2024. Weekly volume was -33% below average.
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 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 trend support level is at 251.31 and resistance is at 298.03. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern 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 291.27 on March 22, 2024. FDX gained -56.81 points, or -24.23%, in 5 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 264.42 and resistance is at 284.91. 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. During the last week, weekly 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 weekly MACD line is above its signal line since March 15, 2024. This is an indication that the medium-term trend is up. 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 22, 2024 at 291.27 and reached 262.08 on April 18, 2024. FDX lost 29.19 points, or 10.02%, in 27 days. The chart has formed a Falling Channel chart pattern. The price is near the trend resistance line (266.70). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a short-term trend.
 Daily Technical Indicators: [See FDX daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. 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. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 4, 2024. This is an indication that the short-term trend is down.
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