FDX More Room To Downside

By September 6, 2012 Chart Analysis No Comments

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:

FDX More Room To Downside

Leave a Reply

Your email address will not be published.