FedEx Crosses Below its 10-day MA (FDX)
FedEx (NYSE:FDX) crossed under its 10-day moving average of $167.17 on a volume of 283K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, FedEx has traded in a range of $119.71 to $185.19 and is now at $166.09, 39% above that low. 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 July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $162.54. Since that recommendation, shares of FedEx have risen 3.5%. We continue to monitor FDX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses FedEx