FEDEX sitting on MA200 support

NYSE:FDX   FedEx Corporation
Fedex reached ATH on May 27 and since then it has been sidetracking and recently gapped down on Jul 27 (2 months later) and now sitting on the MA200 support.

Is this a good sign ?

My analysis is that, the bull run is probably for the time being and fedex could be going sideways for a while and might even break the MA200 support.

Chance of it breaking is QUITE HIGH

Looking at the Dow Jones Transportation, the sector seems to be underperforming compared to the SPX and Dow indices. Please look at my previous post on UPS and DJT.