Due to global economy slowdown FDX today lowered its guidance. This news caused FDX to fall today by $1.74
If we look at the chart of FDX we will notice that it made low of about $64 around October 2011 and high of $97 in March 2012. If we take the range of high to low it comes to $33.00. 50% retracement of $33 is $16.50. If we subtract $16.50 from $97 the target for FDX comes to $80.50. Therefore, FDX has high probability that it is headed to $80.50 in near future.
Chart of FDX shown below: