A look at FedEx Corp. — breakout from a Cup and Handle (NYSE:FDX)

by DAN FedEx Corp. ($FDX) averages are at $108.11 (21 day SMA), $104.17 (50 day SMA), $98.96 (200 day SMA). Over the past 52 weeks FDX has traded from a low of $83.92 to a high of $110.89. FDX was last at $113.02 on a volume of 1,403,610. Average daily volume has been at 2,652,406.

Last March, FedEx (FDX) peaked at $110 before rolling over. During the past several weeks, FDX has been back to test that level and trading on light volume. Technical traders recognize this as a bullish “cup and handle” pattern. The breakout today completes that pattern and sets the stage for a continuation of the uptrend.

52 Week Range $83.92-$110.89 Market Cap 35,648,552,206 Average Volume 2,652,406 Dividend Yield 0.54% Institutional Ownership 81.50% Insider Ownership: 5.30% Percentage of Float Short 1.60% Beta 1.25

FedEx Corporation provides a portfolio of transportation, e-commerce and business services. It operates in four business segments: FedEx Express, FedEx Ground, FedEx Freight and FedEx Services.

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