Watch These FedEx Levels as Stock Tumbles After Shipping Giant Suspends Full-Year Outlook
Key Takeaways
- FedEx shares dropped in extended trading on Tuesday after the shipping giant suspended its annual outlook and issued light guidance for the current quarter, which overshadowed quarterly results that surpassed Wall Street expectations.
- The stock looks set to break down from an ascending triangle in Wednesday’s trading session, potentially signaling a continuation of the stock’s longer-term downtrend.
- Investors should monitor key support levels on the FedEx chart around $214 and $194, while also watching important resistance levels near $233 and $254.
FedEx (FDX) shares dropped in extended trading on Tuesday after the shipping giant suspended its annual outlook and issued light guidance for the current quarter, which…
