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Fedex Corp (FDX) Breaks Through Resistance at $159.39

By Nick Russo

Shares of Fedex Corp (NYSE:FDX) have bullishly opened above the pivot of $159.69 today and have reached the first resistance level of $159.39. Should the shares continue to rise, the resistance pivots of $160.15 and $160.61 will be of interest.

Fedex Corp share prices have moved between a 52-week high of $199.32 and a 52-week low of $137.78 and are now trading 15% above that low price at $158.77 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has remained constant.

Fedex Corp has overhead space with shares priced $158.77, or 44.3% below the average consensus analyst price target of $284.96. Fedex Corp shares should encounter resistance at the 200-day moving average (MA) of $159.08 and support at the 50-day MA of $154.52.

SmarTrend is monitoring the recent change of momentum in Fedex Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Fedex Corp in search of a potential trend change.

Keywords: pivot alerts fedex corp

Ticker(s): FDX