Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>FDX stock forms a rising parallel channel and is waiting for a bounce.</a> </li> 
 <li> <span>2</span> <a>FDX stock showcased a hammer candlestick near the channel lows.</a> </li> 
</ul> 
<p>FedEx Corporation (FDX stock) price continues to uplift the gains and extend the bullish move inside the rising parallel channel, forming higher highs over the past sessions. Moreover, FDX stock price action indicates buyers accumulation and shows an interest in making long build-ups. Furthermore, the chart structure shows an uptrend, and a further rebound will take FDX beyond the immediate swing hurdle of $270.</p> 
<p>FDX stock (NYSE: FDX) price is near the channel lower trendline, and buyers are looking for a pullback to make a new higher high above the 20-day EMA spot of $260. However, buying interest was witnessed on the charts, and FDX stock continues to gain traction, showing bullish dominance over the past months. Recently, FDX stock has shown a range breakout and gained momentum beyond the cluster of $230. Afterwards, buyers persisted in stretching the gains, and sellers stayed cautious.&nbsp;</p> 
<p>FDX stock has done its correction, recovered the initial gains, and retained the cluster of $250, showing the reversal on the charts. FDX stock has recovered over 85% of gains since the start of 2023 till now and trades in the bull trajectory. Moreover, the FDX stock has shown resilience and gained amid market volatility.</p> 
<p>At press time, FDX stock price is trading at $249.99 with an intraday gain of 0.28%, showing bullishness on the charts. Moreover, the trading volume increased by 0.89% to 2.22 Million, and the market cap is $62.875 Billion. Moreover, analysts maintained a buy rating with a yearly target price of $275.23, suggesting a growth outlook for the following sessions.</p> 
<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. The FedEx Express segment offers transportation and delivery services. The FedEx Ground segment provides small-package ground delivery services. The FedEx Freight segment refers to freight transportation services to business and residences.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-fdx-stock-price-on-daily-charts-strong"><strong>FDX Stock Price on Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/1f7EQR2H4O2ia5Qdr2KMJwPhz9HgY3PUYvWlrTR-qDOcvExCGVVmojQUVRm5joAcPhODl_6unrzqoJu5tfFw53dKNBvPXXFjM9zO9wJCt9HoFsL7Q0ypQYWpGyDWJnvy5grvAfizuybXwcVIcn1PXtE" alt="FDX Stock Price Nears $250, Will It Continue to Outperform?"> 
  <figcaption class="wp-element-caption">
    Source: FDX Stock Price Chart At TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, <a href="https://www.thecoinrepublic.com/2023/09/08/fedex-stock-fdx-is-the-bullish-momentum-over-in-fdx-stock/" rel="noopener noreferrer nofollow">FDX stock price</a> formed a rising parallel channel and persisted in gaining over the past sessions. Moreover, a hammer candlestick was formed near the channel’s lower trendline, suggesting a reversal, which is valid if follow-up buying is seen in today’s trading sessions. If this happens, a higher high will form toward the upper trendline of $280. Furthermore, FDX stock is trading above the 50% Fib zone and aiming to escape the 61.8% zone above $265.&nbsp;</p> 
<p>The RSI curve dragged below neutrality and is heading toward the seller region, showing a negative crossover and volatility on the charts.</p> 
<p>The MACD showed a bearish crossover, forming red bars on the histogram, suggesting a negative outlook for the following sessions.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>FDX stock price is trading inside the rising parallel channel and made higher lows, showing a retracement toward the channel lows and sustaining the round mark of $250. Moreover, the bulls are looking for a rebound. They are trying to form a higher high to sustain the channel. However, bulls need momentum to stretch gains by surpassing the 20-day EMA hurdle.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p><strong>Support Levels</strong>: $240 and $230</p> 
<p><strong>Resistance Levels</strong>: $260 and $270</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

FDX Stock Price Nears $250, Will It Continue to Outperform?

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Thecoinrepublic.com

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