FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates in four segments: FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services. The FedEx Express segment offers various shipping services for the delivery of packages and freight. This segment also provides international trade services specializing in customs brokerage, and ocean and air freight forwarding services. In addition, it offers supply chain solutions, including critical inventory logistics, transportation management, and temperature-controlled transportation services. The FedEx Ground segment provides business and residential ground package delivery services. It primarily serves customers in the small-package market in North America. The FedEx Freight segment offers less-than-truckload freight services, as well as freight-shipping services. The FedEx Services segment provides sales, marketing, administrative, information technology, and customer service support services; and access to copying and digital printing through retail and Web-based platforms, signs and graphics, professional finishing, computer rentals, and a range of ground shipping and time-definite express shipping services.
Please review the 1 yr chart of FDX (FedEx Corporation) below with my added notations:
FDX has been trading sideways for the last 5-6 months. During that time the stock has been holding an important level of support at $85 (navy), which you can see was also a key resistance back in October and December. No matter what the market has or has not done over the last 5 or 6 months, FDX has not broken below $85. The stock appears to be making its way back down to that support level again.
The Tale of the Tape: FDX has an important support at $85. A long trade could be made on a pullback to $85 with a stop placed under that level. IF the stock were to break below $85, a short trade should be made with a stop placed above $85.
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