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SmarTrend Watching for Potential Pullback in Shares of Fedex Corp After 3.37% Gain

By James Quinn

Fedex Corp (NYSE:FDX) traded in a range yesterday that spanned from a low of $143.00 to a high of $146.89. Yesterday, the shares gained 3.4%, which took the trading range above the 3-day high of $141.62 on volume of 1.4 million 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 $238.60 and a 52-week low of $137.78 and are now trading 6% above that low price at $146.12 per share. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 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