FDX near suppport after miss

December 19, 2023, 17:56 pm ET, BY Thomas H. Kee Jr- Editor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Fedex (NYSE: FDX) shares are testing support after the earnings miss.  Review the data here.

Longer Term Trading Plans for FDX

• Buy FDX slightly over 254.07 target 273.37 stop loss @ 253.34 Details

The technical summary data tells us to buy FDX near 254.07 with an upside target of 273.37. This data also tells us to set a stop loss @ 253.34 to protect against excessive loss in case the stock begins to move against the trade. 254.07 is the first level of support below 256.2 , and by rule, any test of support is a buy signal. In this case, support 254.07 would be being tested, so a buy signal would exist.

• Short FDX slightly under 273.37, target 254.07, stop loss @ 274.16 Details

The technical summary data is suggesting a short of FDX as it gets near 273.37 with a downside target of 254.07. We should have a stop loss in place at 274.16though. 273.37 is the first level of resistance above 256.2, and by rule, any test of resistance is a short signal. In this case, if resistance 273.37 is being tested, so a short signal would exist.

Swing Trading Plans for FDX

• Buy FDX slightly over 273.37, target 279.31, Stop Loss @ 272.58 Details

If 273.37 begins to break higher, the technical summary data tells us to buy FDX just slightly over 273.37, with an upside target of 279.31. The data also tells us to set a stop loss @ 272.58 in case the stock turns against the trade. 273.37 is the first level of resistance above 256.2, and by rule, any break above resistance is a buy signal. In this case, 273.37, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short FDX slightly near 273.37, target 254.07, Stop Loss @ 274.16. Details

The technical summary data is suggesting a short of FDX if it tests 273.37 with a downside target of 254.07. We should have a stop loss in place at 274.16 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 273.37, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for FDX

• Buy FDX slightly over 273.37, target 279.31, Stop Loss @ 272.73 Details

If 273.37 begins to break higher, the technical summary data tells us to buy FDX just slightly over 273.37, with an upside target of 279.31. The data also tells us to set a stop loss @ 272.73 in case the stock turns against the trade. 273.37 is the first level of resistance above 256.2, and by rule, any break above resistance is a buy signal. In this case, 273.37, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short FDX slightly near 273.37, target 254.07, Stop Loss @ 274.01. Details

The technical summary data is suggesting a short of FDX if it tests 273.37 with a downside target of 254.07. We should have a stop loss in place at 274.01 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 273.37, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

FDX Ratings for December 19:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	254.07
P2	281.39	279.31	273.37
P3	287.35	285.15	291.41

Support and Resistance Plot Chart for FDX

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