The Greedy Trader Weekly Analysis
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FedEx Corporation (FDX)

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overboughtPrice is near the trend high
Daily :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overbought
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It was a twelfth consecutive positive week for the FedEx Corporation (FDX). During the week, the FDX gained 12.32 points, or 4.54%, and closed at 283.87 on Friday, October 16, 2020. Weekly volume was -43% below average.

FDX is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See FDX long-term trend chart]
A long-term downtrend had started on January 18, 2018 at 274.66 and reached 88.69 on March 17, 2020. FDX lost 185.97 points, or 67.71%, in 112 weeks. Price is near the highest trend level.

Medium-term trend: [See FDX medium-term trend chart]
A medium-term uptrend had started on March 17, 2020 at 88.69 and reached 287.16 on October 16, 2020. FDX gained -198.47 points, or -223.78%, in 30 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (183.94) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See FDX weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 22, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See FDX short-term trend chart]
A short-term uptrend had started on June 26, 2020 at 129.28 and reached 287.16 on October 16, 2020. FDX gained -157.88 points, or -122.12%, in 112 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 264.38 and resistance is at 300.00. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See FDX daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic.

The daily MACD line is above its signal line since October 6, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 90.00
Overbought
Williams' Percentage Range (W%R) 5.50
Strong Overbought
Lane's Stochastic (%D-Slow) 92.67
Strong Overbought
Greed/Fear Indicator (GFI) 92.37
Strong Overbought
Moving Average Converg./Diverg. (MACD) 12.86
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 99.26
Strong Overbought
Williams' Percentage Range (W%R) 2.00
Strong Overbought
Lane's Stochastic (%D-Slow) 93.13
Strong Overbought
Greed/Fear Indicator (GFI) 89.39
Overbought
Moving Average Converg./Diverg. (MACD) 22.23
Trading Signals
Description Value Chart
Weekly Trendline Resistance 300.00
Upper Bollinger Band 287.85
Daily Stochastic Crossing 285.34
Price 283.87
Weekly Stochastic Crossing 282.12
Parabolic System 268.90
Weekly Trendline Support 264.38
20 Day Moving Average 260.23
50 Day Moving Average 235.24
Lower Bollinger Band 234.10
Sector and Industry
Description Name Rank
Sector Industrials 11
Industry Air Freight & Logistics 124
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 230.27
Low Date 09/21/2020
High 287.16
High Date 10/16/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 300.00
Support 264.38
Low 129.28
Low Date 06/26/2020
High 287.16
High Date 10/16/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 127.29
Low Date 06/15/2020
High 287.16
High Date 10/16/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 212.31
Support 183.94
Low 88.69
Low Date 03/17/2020
High 287.16
High Date 10/16/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 274.66
High Date 01/18/2018
Low 88.69
Low Date 03/17/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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