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Watch for Fedex Corp to Potentially Rebound After Falling 3.12% Yesterday

By David Diaz

Fedex Corp (NYSE:FDX) traded in a range yesterday that spanned from a low of $211.53 to a high of $216.47. Yesterday, the shares fell 3.1%, which took the trading range below the 3-day low of $216.89 on volume of 1.5 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that subscribers consider buying shares of Fedex Corp on May 5th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $191.76. Since that recommendation, shares of Fedex Corp have risen 14.2%. We continue to monitor FDX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, shares of Fedex Corp have traded between a low of $145.00 and a high of $219.99 and are now at $212.38, which is 46% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.6% while the 200-day MA has remained constant.

Keywords: rebounders fedex corp

Ticker(s): FDX