After Yesterday's Rally of 1.06% Shares Could Potentially Pullback
FedEx (NYSE:FDX) traded in a range yesterday that spanned from a low of $163.81 to a high of $165.20. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $165.10 on volume of 471,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 38% above that low price at $165.07 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 22.2%. We continue to monitor FDX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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