FedEx Levels to Watch as Stock Rises on Freight Spinoff Plan
47 minutes ago
FedEx (FDX) shares rose in early trading Friday after the shipping giant announced plans to spin off its freight business as a separate public company, overshadowing a lowered full year outlook.
The stock has oscillated in an orderly ascending channel since July last year, with the price recently finding buying interest around key moving averages.
Investors should watch key overhead areas on FedEx's chart around $305 and $370, while also monitoring important support levels near $278 and $255.
FedEx shares were up 2% at around $282 in recent trading.
Read the full technical analysis piece here.
–Timothy Smith
Stock Index Futures Point to Lower Open
2 hr 27 min ago
Futures tied to the Dow Jones Industrial Average were down 0.5%.
S&P 500 futures were off 0.9%.
Nasdaq 100 futures fell 1.4%.
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