The giant transportation company FedEx (FDX) is bottoming on the charts. In May FDX was trading around $315 or so, and it declined to the $220 area by early October (see the chart below). Prices rallied into November and then pulled back into early December. If we consider the recent pullback a "retest" of the October low, we should be constructive on the stock.
More from Investing
We're closer to hitting a market bottom. Here's the good and bad news about the ugly action we're seeing.
Here are our latest price targets.
The producer of industrial and construction supplies is scheduled to report earnings Wednesday morning.