Technical Analysis: Delivery Giant Records Intraday Gain of 0.92%įedEx Corp. Furthermore, as the stock revamped from the correction, buyers have an edge now, and sellers are in trouble. Moreover, the technical parameters suggest that the stock is gradually heading toward $300, which is the near-term target that investors might catch soon. Amid the news of the transition, the stock noted a positive setback, and the price resumed the rally beyond the vision. Dietrich will take over as CFO on August 1st. Yesterday, the logistics giant FedEx appointed a new CFO ( Chief Financial Officer), John Deitrich, a former CEO of Atlas Air Worldwide Holdings. 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. The chart structure suggests that bulls are gaining strength and are now looking for an expansion in the rally. Furthermore, the price exceeded the resistance of $240 in the past months above the key moving averages. 2 Bulls are meeting the supply zone and pausing over there.įedEx Corporation stock (FDX) price shows a vertical rally forming a rising parallel channel revamped from the bottom of $160 at the start of 2023.
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