FedEx: buyers return, trend loses steam
FedEx gains 0.6% as buyers return, but the trend keeps losing steam
FedEx: buyers return, trend loses steam
Our view last week
FedEx shares hand control back to sellers: after last week's 8% rebound off the double bottom in the 305 area, this week 78% of volume flips to the sell side, with the last candle dominated in extreme fashion. The weekly technical analysis flags the MACD easing further and money flow cooling off, while the ADX keeps falling: the trend loses more conviction. The 305 area support still holds, and the trade, in its 13th week, sits essentially at breakeven.
This week's summary
FedEx shares find buyers again this week: 56% of volume flips to the buy side after last week's rout, and the stock closes up a modest 0.6%, with the double bottom in the 305 area holding. The bigger picture doesn't change lanes, though: the ADX has now fallen for a fourth straight week and the MACD keeps losing ground, a sign the trend is struggling to regain traction. The trade sits essentially at breakeven.
IQS Phase
34
ordinary
Signal Strength
47
medium · weak
Sizing
REDUCED
Ranking
#80 / 124
US stocks in progress
Trade P&L %
-0.32%
from signal to today
Rank position
ranks 80th among the 124 Longs already running for US stocks in our ranking, with a signal strength of 47 out of 100.
Sector context
SectorIndustrial
Benchmark ETFXLI
Sector regimein positive regime
Performanceweekly +1.81% · monthly +1.36%
FDX belongs to the industrial sector (reference ETF XLI). The sector is classified in positive regime according to our weekly reading.
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