FedEx Financial Performance Exceeds Forecasts. Idea 26/03/24
FedEx Corp., a prominent logistics company, announced quarterly earnings of 3.86 USD per share on revenue of 21.7 billion USD. According to LSEG, analysts had predicted earnings of 3.45 USD per share with revenue of 22.04 billion USD. Although sales of logistics services have decreased, their profitability has increased, indicating financial stability.
Additionally, China intends to ease restrictions on data transfers from its jurisdiction, a move that businesses in the US and EU have positively received. A forum will soon take place in Beijing, to which representatives from FedEx are also invited. This step by the Chinese government will allow for business expansion in China.
Given these developments, a technical analysis of FedEx Corp's (FDX) stock chart is warranted.
On the daily (D1) timeframe, a support level formed at 251.68 USD, and the resistance at 270.95 USD was broken, with no new resistance formed yet. A strong upward trend is observed. After a corrective decline and the formation of a resistance level, the stock price is highly likely to continue its ascent.
On the hourly (H1) timeframe, long positions may be of interest when rebounding from the 270.95 USD level, with a short-term target of 302.36 USD. Maintaining a long position up to 320.45 USE could be considered in the medium term.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Additionally, China intends to ease restrictions on data transfers from its jurisdiction, a move that businesses in the US and EU have positively received. A forum will soon take place in Beijing, to which representatives from FedEx are also invited. This step by the Chinese government will allow for business expansion in China.
Given these developments, a technical analysis of FedEx Corp's (FDX) stock chart is warranted.
On the daily (D1) timeframe, a support level formed at 251.68 USD, and the resistance at 270.95 USD was broken, with no new resistance formed yet. A strong upward trend is observed. After a corrective decline and the formation of a resistance level, the stock price is highly likely to continue its ascent.
On the hourly (H1) timeframe, long positions may be of interest when rebounding from the 270.95 USD level, with a short-term target of 302.36 USD. Maintaining a long position up to 320.45 USE could be considered in the medium term.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
