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Fedex Corp Set to Possibly Rebound After Yesterday's Selloff of 3.18%

By James Quinn

Fedex Corp (NYSE:FDX) traded in a range yesterday that spanned from a low of $152.48 to a high of $154.47. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $158.05 on volume of 169,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Fedex Corp has traded in a range of $137.78 to $234.49 and is now at $153.00, 11% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Fedex Corp and will alert subscribers who have FDX in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders fedex corp

Ticker(s): FDX