FedEx (FDX) slipped from about $280 to $247.25 after missing on earnings and revenue.

However, it appears the stock has bottomed out, currently consolidating around $247.25. It’s also oversold on RSI, MACD, and Williams’ %R.

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Helping, the company announced a $1 billion buyback program and said it was maintaining EPS guidance for the fiscal year. Even better, the company’s new chief financial officer, John Dietrich just bought 1,000 shares for $252,000.

From its current price of $247.25, we’d like to see it refill its bearish gap around $280 again.


Ian Cooper