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Fedex Corp Set to Possibly Rebound After Yesterday's Selloff of 2.81%

By Nick Russo

Fedex Corp (NYSE:FDX) traded in a range yesterday that spanned from a low of $110.59 to a high of $113.15. Yesterday, the shares fell 2.8%, which took the trading range below the 3-day low of $116.28 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.

Over the past year, Fedex Corp has traded in a range of $88.69 to $178.50 and is now at $109.69, 24% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.1% while the 200-day MA has slid 0.6%.

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