December 18 Chart of the Day - FedEx

Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.

FedEx (FDX), one of the world’s largest logistics, shipping, and freight transportation companies, continues to rebound strongly from recent lows as price pushed deeper into a decisive mid-range zone.

After months of consolidation inside a large rising channel, FDX now faces several important overhead resistance levels that will determine whether this move has the strength to retest its highs. Traders are watching for confirmation of trend continuation or signs of exhaustion.

Notably, the company reports earnings after the bell today.

We'll review the chart from a price action perspective to identify potential levels of interest in both directions.

The charts highlight key levels where investors and traders alike will be watching closely.

Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.

When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame. 

As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.

Since May 2023, we've showcased over 675+ Charts of the Day and provide a Free Quick Start Guide to traders with ambitious income goals for our patent-pending NeuroTrading Method®

Monthly Chart 

The monthly chart shows FDX advancing from a deep 2022 low before failing at the $319.90 high and pulling back into the mid 200s. Price then bounced cleanly from the long-term rising trend line and is now climbing again towards potential resistance levels.

While the larger rising channel remains intact, price is moving into historically reactive levels where sellers have repeatedly emerged. A break above $305.66 could re-open the path toward the $354.41 Fibonacci extension level.

With plenty of volatility traders have had much to be happy with and long term buy and hold investors have been on a roller coaster ride.

This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.

Weekly Chart

The weekly chart reveals a wide rising channel with several significant Fibonacci layers from the most recent swing. Price is now approaching the mid-channel resistance after reclaiming multiple fib levels.

Key weekly chart levels include:

• 50 percent retracement at $256.52
• 61.8 percent retracement at $248.99
• Trend resistance near $305
• Lower support at $230.26 and then a major $207.59 level

It goes without saying though, the only guarantee in the markets is that price cycles.  It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.

Only time will tell for sure what price will do next...

We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.

With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.

So what's next? 

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