Fedex price driven lower by pivotal resistance - Forecast today - 02-04-2024

Economies.com
2024-04-02 14:15PM UTC

Fedex Corporation’s stock price (FDX) fell in the intraday levels after the pivotal resistance of 285.50 held on, with the stock collecting profits and gathering momentum to pierce that resistance, while venting off overbought saturation in the RSI, with negative signals out of them, amid the dominance of the main upward trend in the medium term, coupled with positive pressure from the 50-day SMA.

 

Therefore we expect the stock to return higher, targeting the main resistance of 300.00, provided the initial resistance of 285.50 was reliably pierced. 

 

Trend forecast: Likely Bullish 

 

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