Fedex pierces main downward trend line - Analysis - 15-06-2022

2022-06-15 11:50:41 GMT (Economies.com)
 

Fedex's stock (FDX) spiked 14.41% in the last session, or 28.97, settling at 229.95, with trading volumes surpassing 13 million shares, above 10-day averages of 2.8 million shares, after reporting a spike in quarterly profits by 53% to $1.15 from 75 cents, with earnings up 10% to $23.64 billion.

 

The stock is gathering positive momentum after leaning on the support of the 50-day SMA, while the RSI reached oversold levels compared to the stock's movements, hinting at positive divergence, while piercing the main downward short-term trend line. 

 

Therefore we expect more gains for the stock, targeting the resistance of 266.79, while settling above 219.36. 

 

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Expected trend for today: Bullish

 
 
 
  Symbol Last Change Chg.%
1.0172
-0.0047
0.4595%
1.2108
0.0004
0.0310%
20.118
-0.133
0.657%
86.838
-0.423
0.485%
92.34
-2.76
2.90%
1774.910
-6.775
0.380%
 
 
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