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Look for Shares of Fedex Corp to Potentially Pullback after Yesterday's 2.03% Rise

By James Quinn

Fedex Corp (NYSE:FDX) traded in a range yesterday that spanned from a low of $245.62 to a high of $251.08. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $246.95 on volume of 698,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Fedex Corp share prices have moved between a 52-week high of $274.66 and a 52-week low of $145.00 and are now trading 72% above that low price at $249.66 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.6%.

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