FedEx Corp. ( FDX) is preparing to tell shareholders and analysts how it did over the past three months when it reports its fiscal second-quarter results after the closing bell here on Tuesday. Analysts are waiting to dig into the numbers and projections, but we'll dig into the charts of the shipping giant now. 
In this daily bar chart of FDX, below, I can see that prices have been in a downward trend the past year. FDX trades below the declining 200-day moving average line and just slightly above the rising 50-day line. The trading volume shows a big surge higher in September when prices gapped sharply lower. Trading volume has diminished since the middle of September and the daily On-Balance-Volume (OBV) line made a slight recovery from October to early December. Aggressive buying has been limited. The Moving Average Convergence Divergence (MACD) oscillator is only slightly above the zero line, telling us that trend strength is minimal.
In this weekly Japanese candlestick chart of FDX, below, I see a bearish setup. Prices are in a longer-term bear trend as they remain below the negatively sloped 40-week moving average line. The weekly OBV line is in a downtrend since the beginning of 2022. The MACD oscillator is below the zero line and has only managed to signal a cover shorts buy message.
In this daily Point and Figure chart of FDX, below, I see the software is projecting a downside price target in the $151 area.
In this weekly Point and Figure chart of FDX, below, I can see the same $151 price target as the daily chart.
Bottom line strategy: I have no knowledge of what FDX will report after the close of trading today, but at this point in time the charts and indicators look bearish and traders should avoid the long side of FDX for now.
