Atlas

Giant

Daily

Gains

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>FDX stock surpassed $250 and sustained on the top.</a> </li> 
 <li> <span>2</span> <a>Bulls are meeting the supply zone and pausing over there.</a> </li> 
</ul> 
<p>FedEx Corporation stock (FDX) price shows a vertical rally forming a rising parallel channel revamped from the bottom of $160 at the start of 2023. Furthermore, the price exceeded the resistance of $240 in the past months above the key moving averages.&nbsp;</p> 
<p>The chart structure suggests that bulls are gaining strength and are now looking for an expansion in the rally.. The price action showed a massive rally, where sellers were covering their positions, whereas buyers continued accumulating and making long build-ups from the past months, resulting in the stock surge on the top.</p> 
<p>Yesterday, the logistics giant FedEx appointed a new CFO ( Chief Financial Officer), John Deitrich, a former CEO of Atlas Air Worldwide Holdings. Dietrich will take over as CFO on August 1st. Amid the news of the transition, the stock noted a positive setback, and the price resumed the rally beyond the vision.</p> 
<p>Moreover, the technical parameters suggest that the stock is gradually heading toward $300, which is the near-term target that investors might catch soon. Furthermore, as the stock revamped from the correction, buyers have an edge now, and sellers are in trouble.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-delivery-giant-records-intraday-gain-of-0-92-strong"><strong>Technical Analysis: Delivery Giant Records Intraday Gain of 0.92%</strong></h2> 
<p>FedEx Corp. is a holding company that provides transportation, e-commerce, business services, and business solutions. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other, and Eliminations.&nbsp;</p> 
<p>The FedEx Express segment offers transportation and delivery services. The FedEx Ground segment provides small-package ground delivery services.&nbsp;</p> 
<p>The FedEx Services include sales, marketing, information technology, communications, customer service, technical support, billing and collection services, and certain back-office functions that support the Company’s operating segments.</p> 
<p>At the time of writing, FDX <a href="https://www.thecoinrepublic.com/2023/07/20/gamestop-corp-gme-stock-price-roadmap-to-50-are-you-buying/" target="_blank" rel="noopener noreferrer nofollow">stock</a> is trading at $259.56 with an intraday drop of 0.92% showing profit booking on the charts. Moreover, the trading volume is at 1.650 Million, and the market cap is $65.157 Billion.</p> 
<h2 class="wp-block-heading" id="strong-daily-charts-show-rising-channel-formation-strong"><strong>Daily Charts Show Rising Channel Formation</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/nZ19HTxUshWPdsRXBLHGl-VwcItzpLleATDk-JKx30RO5Nw3arXXe1crigyY3Sv8Zdrs1I5oryvVz7MNUkRNyPN5OuSRqEA-A1n7zIMEeU0VT79Xdiv4BNdyIv3rbUvtb4DKi_E5l7pGIMcacdVIFw" alt="FedEx Corporation (NYSE: FDX) Riding the Gains Inside the Channel"> 
  <figcaption class="wp-element-caption">
    Source: FDX Stock Price Chart at TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, FDX noted a rebound from the lows of $160 near the demand zone and formed a rising parallel channel, leading to a bounce. Furthermore, the stock smashed through its key MA, which shows the buyers’ strength.</p> 
<p>The analysts are maintaining buy ratings, as per the stock technicals, which gave investors a positive reaction, and demand was rising day by day.</p> 
<p>The RSI curve stayed above the overbought region, forming a positive crossover which shows buyers’ dominance on the charts and suggests bullishness from the past sessions.</p> 
<p>The MACD indicator showed a bullish crossover and green bars indicating near-term growth and a positive outlook for the stock.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>FedEx Corporation stock (FDX) continued riding the gains and stayed above the essential MA. Moreover, the trajectory shows that the stock is in bullish territory, suggesting a further rise in the near term.</p> 
<h5 class="wp-block-heading"><strong>Technical Levels:</strong></h5> 
<p>Support Levels: $250 and $240</p> 
<p>Resistance Levels:$265 and $280</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

FedEx Corporation (NYSE: FDX) Riding the Gains Inside the Channel

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