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Watch for Fedex Corp to Potentially Rebound After Falling 2.81% Yesterday

By James Quinn

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.

In the past 52 weeks, Fedex Corp share prices have been bracketed by a low of $88.69 and a high of $178.50 and are now at $109.69, 24% above that low price. The 200-day and 50-day moving averages have moved 0.6% lower and 1.1% lower over the past week, respectively.

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