Momentum

Resistance

Time

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>FedEx stock price (NYSE: FDX) corrected 5% (approx.) after hitting the 52-week high.</a> </li> 
 <li> <span>2</span> <a>FDX stock price is in an uptrend and sustaining above both the EMAs.</a> </li> 
 <li> <span>3</span> <a>FedEx Corp. is expected to release its quarterly earnings on Sep 20, 2023.</a> </li> 
</ul> 
<p>FedEx stock price (NYSE: FDX) is reversing down and corrected 5% (approx.) after hitting a 52-week low. It retraced down to the 50-day EMA and showed signs of a short-term bullish trend reversal.&nbsp;</p> 
<p>FDX stock price performed well in the past few months and generated decent returns for its investors. The stock price sustained above the 200-day EMA. It showcases that the positional trend is still in the upward direction.&nbsp;</p> 
<p>In June, FedEx’s stock price breakout of the $236 hurdle with a high volume. It triggered a positive sentiment and prices rallied approximately 14% in a short span of time.&nbsp;</p> 
<p>The bullish momentum in the FedEx Corp. halted near $271 and prices witnessed minor profit booking. However, the prices did not decline much and entered into a wide range of consolidation.&nbsp;</p> 
<p>On the lower side, $250 will act as a strong support for the bulls and correction might take a halt. However, it will be interesting to see whether the bulls are able to defend the support or not.&nbsp;</p> 
<p>FDX stock price closed the previous session at $256.16 with an intraday decline of -0.15%. The market capitalization stands at $64.43 Billion.</p> 
<h2 class="wp-block-heading" id="strong-will-fedex-stock-price-bounce-back-from-support-strong"><strong>Will FedEx Stock Price Bounce Back From Support?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="678" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-173.png" alt="FedEx Stock (FDX): Is the Bullish Momentum Over in FDX Stock?" class="wp-image-166009" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-173.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-173-300x127.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-173-1024x434.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-173-768x325.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-173-1536x651.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-173-750x318.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-173-1140x483.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   NYSE: FDX daily chart by <a href="https://www.tradingview.com/x/VjLDrAwv/" target="_blank" rel="noreferrer noopener">TradingView</a>
  </figcaption>
 </figure>
</div> 
<p>FedEx stock price (NYSE: FDX) is in a short-term correction phase. However, the prices are near to the crucial support and buyers are trying their best to rebound.&nbsp;</p> 
<p>FedEx Crop. scheduled the next quarterly earnings on September 20, 2023. Market analysts estimated an EPS of $3.702 and revenue of $21.742 Billion.&nbsp;</p> 
<p>If the company succeeds in beating the estimates then the probability of a bounce back in <a href="https://www.thecoinrepublic.com/2023/08/09/fedex-stock-price-prediction-what-fdx-price-targets-for-aug-23/" target="_blank" rel="noreferrer noopener">FDX stock </a>will increase. On the other hand, if FDX misses the estimates then $250.00 support will be at risk.</p> 
<h3 class="wp-block-heading" id="strong-fdx-stock-price-is-bullish-on-multiple-time-frame-strong"><strong>FDX Stock Price is Bullish on Multiple Time Frame</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp;
 <div id="tradingview_7e680"></div> &nbsp;&nbsp;
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> &nbsp;&nbsp;
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp;
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": 950,

  "height": 500,

  "symbol": "NYSE:FDX",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "dark",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;Supertrend"

  ],

  "container_id": "tradingview_7e680"

}

  );

  </script> 
</div>  
<p>FDX stock price is still bullish on the daily, weekly, and monthly time frame. Prices are returning back to test the breakout level. But seems to be active and downside risk looks limited.&nbsp;</p> 
<p>Till the FedEx <a href="https://www.thecoinrepublic.com/2023/08/09/fedex-stock-price-prediction-what-fdx-price-targets-for-aug-23/" target="_blank" rel="noreferrer noopener">stock price</a> sustains above $250, the prices are expected to remain in the bulls’ grip. However, if the prices drop below $250.00 then the short-term trend will surely reverse in the favor of bears.&nbsp;</p> 
<p>The earnings are also near due to which volatility in the stock may increase. Therefore, investors should wait for the confirmation of the upside reversal before building up any position.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>FedEx stock price (NYSE: FDX) corrected around 5% and retraced down to the 50-day EMA. The trend remains in an upward direction so the probability of a bounce back in FDX stock is high. The analysis suggests that the bullish momentum is intact and buyers will soon return back to track.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $264.00 and $271.00</li> 
 <li>Support levels: $250.00 and $236.00</li> 
</ul> 
<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. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

FedEx Stock (FDX): Is the Bullish Momentum Over in FDX Stock?

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