In the face of various challenges, FedEx Corporation (NYSE: NYSE:FDX ) showcased resilience and strategic adaptability during the second quarter of fiscal year 2024. The company reported a mixed performance across its segments, with some facing revenue declines while others experienced growth. Here's a detailed analysis of the key factors influencing FedEx's...
FedEx Corporation - 30d expiry - We look to Buy at 232.11 (stop at 224.61)
Daily signals are bullish.
Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end.
A lower correction is expected.
Bespoke support is located at 232.
This stock has seen good sales growth.
Our profit targets will...
FedEx Corporation - 30d expiry - We look to Buy at 200.11 (stop at 190.48)
Daily signals are bullish.
Levels below 200 continue to attract buyers.
Trading close to the psychological 200 level.
Bespoke support is located at 200.
We look to buy dips.
A higher correction is expected. Trading has been mixed and volatile.
This stock has seen good sales growth....
FedEx Corporation - 30d expiry - We look to Buy at 199.22 (stop at 188.73)
Traded to the highest level in 22 weeks.
Trading close to the psychological 200 level.
Levels below 200 continue to attract buyers.
We are trading at overbought extremes.
A lower correction is expected.
The sequence for trading is higher highs and lows.
Our profit targets will be...
FedEx Corporation
Short Term - We look to Buy at 161.03 (stop at 148.79)
The company gave a bleak outlook for profits and plunged in the premarket by 20% .We are trading at oversold extremes. A move lower faces tough support and we remain cautious on downside potential. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move...
Cup and handle basing pattern.
Huge institutional buying on handle breakout.
Leader the past 5 days during general market panic sell.
Risk: 80 bps
Profit Protection: 3-Day Trailing Stop Rule (Peter Brandt)
You don't need to know what's going to happen next to make money ~Mark Douglas
Anything can happen ~Mark Douglas
FDX has shown a solid pattern on the uptrend for the last month or so, and is currently within reach of ATH. Shipping is getting more expensive, and FDX is in the process of a share buyback program. I can see this going to 285 or so, top of 300.
NFA
RSI indicator showing that FEDEX CORPORATION (FDX) is oversold. We see a reversal to a new ATH at $360.
For educational purposes only.
Daily RSI: 9.26 - Oversold.
Weekly RSI: 21.00 - Oversold.
