Fedex declines alongside upward correctional trend line - Analysis - 06-12-2022

Fedex Corporation's stock fell in the intraday levels, amid the dominance of the upward correctional short-term trend, with positive support from the 50-day SMA, countered by negative signals from the RSI, while the stock gathers momentum to rise anew. 

Therefore we expect the stock to return higher and target the pivotal resistance of 196.90, provided the support of 165.35 holds on.

Expected trend for today: Bullish