After Yesterday's Rally of 1.52% Shares Could Potentially Pullback
FedEx (NYSE:FDX) traded in a range yesterday that spanned from a low of $159.53 to a high of $162.46. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $160.68 on volume of 639,000 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 35% above that low price at $161.52 per share. The 200-day and 50-day moving averages have moved 0.07% lower and 1.62% higher over the past week, respectively.
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 19.1%. We continue to monitor FDX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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