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Buyers Accumulate Shares of FedEx, Up 1.8%

Published on Thu, 01/24/2013 - 11:26
By Mallory Stone

FedEx (NYSE:FDX) is one of today's notable stocks on the rise, up 1.8% to $101.45. The Dow is up 0.6% to 13,858 and the S&P is currently up 0.4% to 1,500.

Potential upside of 6.6% exists for FedEx, based on a current level of $101.45 and analysts' average consensus price target of $108.20. The stock should find initial support at its 50-day moving average (MA) of $92.08 and further support at its 200-day MA of $89.67.

Over the past year, FedEx has traded in a range of $83.80 to $101.61 and is now at $101.45, 21% above that low. The 200-day and 50-day moving averages have moved 0.10% higher and 0.41% higher over the past week, respectively.

FedEx Corp. delivers packages and freight to multiple countries and territories throught an integrated global network. The Company provides worldwide express delivery, ground small-parcel delivery, less-than-truckload freight delivery, supply chain management services, customs brokerage services, and trade facilitation and electronic commerce solutions.

By Mallory Stone
mstone@fnno.com