FedEx Stock Forecast
Green day on Monday for FedEx stock after gaining 1.18%
(Updated on Apr 22, 2024)
The FedEx stock price gained 1.18% on the last trading day (Monday, 22nd Apr 2024), rising from $266.99 to $270.15. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.84% from a day low at $267.02 to a day high of $271.94. The price has been going up and down for this period, and there has been a -1.97% loss for the last 2 weeks. Volume fell on the last day by -318 thousand shares and in total, 1 million shares were bought and sold for approximately $276.75 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $264.44 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 15.32% during the next 3 months and, with a 90% probability hold a price between $304.94 and $345.99 at the end of this 3-month period.
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FDX Signals & Forecast
A sell signal was issued from a pivot top point on Thursday, March 28, 2024, and so far it has fallen -6.76%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. The FedEx stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $266.12 and $266.32. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for FedEx stock
FedEx finds support from accumulated volume at $264.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.92 between high and low, or 1.84%. For the last week, the stock has had daily average volatility of 1.56%.
Our recommended stop-loss: $258.86 (-4.18%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 16 days ago.)
Trading Expectations (FDX) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect FedEx Corporation to open at $269.70, and during the day (based on 14 day Average True Range), to move between $264.98 and $275.32, which gives a possible trading interval of +/-$5.17 (+/-1.91%) up or down from last closing price. If FedEx Corporation takes out the full calculated possible swing range there will be an estimated 3.83% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $264.85 (1.96%) than the resistance at $280.13 (3.69%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is FedEx Corporation stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 3.295 Buy Candidate Unchanged
Predicted Opening Price for FedEx Corporation of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $269.70 ( 0.165%) | $270.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FDX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 274.62 | 1.66 % | |
| R2 | 272.74 | 0.96 % | ||
| R1 | 271.58 | 0.530 % | ||
| Current price: | 270.15 | |||
| Support | S1 | 267.82 | -0.86 % | |
| S2 | 266.66 | -1.29 % | ||
| S3 | 264.78 | -1.99 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 288.99 | 6.97 % | |
| R2 | 284.32 | 5.25 % | ||
| R1 | 280.13 | 3.69 % | ||
| Current price | 270.15 | |||
| Support | S1 | 264.85 | -1.96% | |
| S2 | 243.77 | -9.76% | ||
| S3 | 238.31 | -11.79% |
FDX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 16, 2024 | Mar 08, 2024 | Apr 01, 2024 | $1.26 | 0.450% |
| 2 | Dec 08, 2023 | Dec 08, 2023 | Jan 02, 2024 | $1.26 | 0.500% |
| 3 | Aug 18, 2023 | Sep 08, 2023 | Oct 02, 2023 | $1.26 | 0.475% |
| 4 | Apr 05, 2023 | Jun 09, 2023 | Jul 03, 2023 | $1.26 | 0.509% |
| 5 | Feb 17, 2023 | Mar 10, 2023 | Apr 03, 2023 | $1.15 | 0.503% |
FAQ
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