FedEx Crosses Below its 10-day MA (FDX)
FedEx (NYSE:FDX) shares have crossed bearishly below their 10-day moving average of $163.62 on a volume of 450K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.
FedEx share prices have moved between a 52-week high of $185.19 and a 52-week low of $119.71 and are now trading 35% above that low price at $161.62 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.
SmarTrend recommended that subscribers consider buying shares of FedEx on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $133.60. Since that recommendation, shares of FedEx have risen 23.4%. We continue to monitor FDX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses FedEx