During Friday's Mad Money program Jim Cramer told his viewers about his game plan for this week. On Tuesday, Cramer noted, we will find out if we'll hear if there's any good news at FedEx (FDX) when it reports earnings after the market close.
Let's check out the FDX charts.
In the daily bar chart of FDX, below, we can see that the shares have been skidding since early June. Prices have been trading below the declining 50-day and 200-day moving averages. Math tells us that we are in a downward trend. The 50-day has crossed below the 200-day for a bearish dead or death cross.
The On-Balance-Volume (OBV) line also started a decline in early June telling us that traders switched to being aggressive sellers from aggressive buyers. The 12-day price momentum study in the bottom panel shows that there is some slowing in the pace of the decline from August to September but this is probably not a big enough bullish divergence to generate an upside reversal.