Biggest Gainer at the Opening Bell: FedEx

Is FedEx beginning a new long-term up trend?

Uptrend 2

On Wednesday morning, FedEx (FDX), the largest express package delivery service in the world gapped up over 13% at the open after reporting earnings after market on June 30th. 

Looking at a weekly chart, FedEx's stock price has broken to the upside of a descending channel that price has been declining since September of 2018. If price can hold above the upper trend line this could be the beginning of a long-term up trend.    

Source: GAIN Capital, TradingView

Looking at a daily chart, FedEx's stock price gapped above the upper trend line of an ascending channel that began to form in early-March. A gap up after news like an earnings release is a bullish signal. The RSI is currently in overbought territory holding above 70. Price is expected to hold above the upper trend line and continue advancing towards the $168.00 resistance level. If price can reach $168.00, it will mark a new high for the year, likely bringing in a new wave of momentum potentially pushing the price up to the $178.00 resistance level. If price fails to hold above the upper trend line we may see price dip back to the $150.00 support level. If price breaks below $150.00 support we may see price fall back to the $142.00 level on a short-term basis. 

Source: GAIN Capital, TradingView

More from Equities


This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.

GAIN Capital Singapore Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the GAIN Capital group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), GAIN Capital Singapore Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact GAIN Capital Singapore Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.

In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither GAIN Capital Singapore Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.

GAIN Capital Singapore Pte. Ltd. is not under any obligation to update this report.

Trading CFDs and FX on margin carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit for the complete Risk Disclosure Statement.