A major sell-side firm cut their fundamental rating on FedEx ( FDX) to "neutral" Tuesday with a $225 price target as they are cautious about the trends into year-end. Let's check out the charts of FDX.
In the daily bar chart of FDX, below, we can see a "stair-step" decline the past 12 months. The shares have made lower lows and lower highs into May and a rally into June failed at a lower high. FDX is trading below the declining 50-day and the bearish 200-day moving average lines.
The On-Balance-Volume (OBV) line has been weak since the beginning of the year. The Moving Average Convergence Divergence (MACD) oscillator has crossed below the zero line for an outright sell signal. 
In the weekly Japanese candlestick chart of FDX, below, we can see that prices are trading below the declining 40-week moving average line.
The OBV line has drifted lower this calendar year and there is an absence of lower shadows on the chart. The MACD oscillator has crossed to the downside from below the zero line.
In this daily Point and Figure chart of FDX, below, we can see a potential downside price target in the $177 area.
In this weekly Point and Figure chart of FDX, below, the same $177 price objective is shown.
Bottom-line strategy: FDX shares could bounce with a steady broader market environment but the risk is a retest and break of the lows in April-May-June. Avoid the long side of FDX.
