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Look for Shares of Fedex Corp to Potentially Pullback after Yesterday's 1.82% Rise

By David Diaz

Fedex Corp (NYSE:FDX) traded in a range yesterday that spanned from a low of $160.17 to a high of $165.44. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $164.00 on volume of 979,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Fedex Corp on April 26th, 2019 by issuing a Downtrend alert when the shares were trading at $184.71. Since that call, shares of Fedex Corp have fallen 12.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Fedex Corp has traded in a range of $150.68 to $266.67 and is now at $165.00, 10% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 0.7%.

Keywords: rebounders fedex corp

Ticker(s): FDX