It’s been a rough month of trading for FedEx stock (FDX), seeing the stock price fall from over $300 down into the $240’s. And it may be headed lower yet.
Money flow in FDX is getting weaker, and the stock price is trading below lateral support at $250.
We have a trading sell signal on the stock which should see FedEx stock price fall to $215, our MOB band price support. Below that is a longer-term moving average around $200.
Any move back above $250 would neutralize the sell signal.
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.