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Archive - 5/17/2024 - Sign In to see current Signals. |
FedEx Corporation (FDX) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the FedEx Corporation (FDX). During the week, the FDX dropped -8.48 points, or -3.19%, and closed at 257.25 on Friday, May 17, 2024. Weekly volume was -20% below average. Long-term trend: [See FDX long-term trend chart] A long-term downtrend had started on May 27, 2021 at 319.90 and reached 141.92 on September 27, 2022. FDX lost 177.98 points, or 55.64%, in 69 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 251.16 and resistance is at 279.98. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend. Medium-term trend: [See FDX medium-term trend chart] A medium-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 price is near the trend support (256.82) 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. During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 256.28 on May 17, 2024. FDX lost 12.05 points, or 4.49%, in 4 days. The price is now at the 8.05% 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 May 13, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger. 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. During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band. During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.
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