Fedex Jumps 3.56% On Bullish Technicals As Volume Surges Past Key Support

Fedex (FDX) rose 3.56% to close at $228.93 in the latest session, rebounding from recent consolidation near the $220-$222 support zone. This rally occurred on above-average volume, suggesting renewed bullish momentum. The following technical analysis evaluates key patterns and indicators.
Candlestick Theory
A bullish engulfing pattern formed on June 27, 2025, as the day’s full-bodied green candle completely overshadowed the previous session’s red candle. This signals strong buying pressure near the $222 support level. The $230-$232 area now acts as immediate resistance, aligning with the June 24 swing high. Sustained closes above $230 could validate further upside, while failure risks a retest of the $215-$220 support zone.
Moving Average Theory
Fedex trades above its 50-day and 100-day moving averages but below the 200-day SMA (approximately $260), reflecting mixed trends. The 50-day MA (near $225) provided dynamic support during the June 27 rebound. A sustained move above the 200-day SMA is needed to confirm a long-term bullish reversal. Currently, the configuration suggests neutral-to-positive intermediate momentum but lingering long-term bearish pressure.
MACD & KDJ Indicators
The MACD histogram shows improving bullish momentum, with the signal line converging toward a potential crossover after a period of consolidation. Meanwhile, the KDJ indicator exited oversold territory (K=32, D=28) on June 27, triggering a bullish "golden cross" (K crossing above D). This alignment suggests short-term upside potential, though MACD remains below its zero line, indicating the broader trend requires confirmation.
Bollinger Bands
Price rebounded sharply from the lower Bollinger Band ($221) on June 27, coinciding with a band expansion after a contraction phase. This signals a volatility breakout. The close near the upper band ($229) implies near-term resistance at $230-$232. Continued expansion alongside rising prices would reinforce bullish conviction, while contraction could precede range-bound action.
Volume-Price Relationship
The 3.56% surge on June 27 saw volume (3.2M shares) exceed the 10-day average, confirming buyer commitment. Notable distribution occurred during the June 25 sell-off (8.1M shares), but subsequent low-volume dips into support (e.g., June 23: 2.0M shares) indicated selling exhaustion. Current volume-backed gains support upside continuation if accompanied by follow-through volume.
Relative Strength Index (RSI)
The RSI (45) exited oversold conditions but remains neutral, avoiding extremes. This suggests room for further upside before overbought risks emerge. The indicator’s recovery from the 30-35 zone in late June aligns with bullish reversals but lacks decisive strength. A break above 55 would signal accelerating momentum.
Fibonacci Retracement
Applying Fibonacci retracement to the April 3 peak ($245.17) and June 25 trough ($216.16), key levels emerge: the 38.2% retracement ($227.50) was breached on June 27, turning support. The 50% level ($230.67) now converges with horizontal resistance. A close above $230.67 could target the 61.8% retracement ($233.80), while failure may revisit the 23.6% level ($222.80).
Confluence and Divergences
Confluence exists at $230-$232, where Fibonacci resistance, swing highs, and Bollinger Band resistance intersect. A decisive break here would align with KDJ/MACD momentum signals. Notable divergence occurred in late June: price made lower lows (June 25–26), while RSI and MACD displayed higher lows, foreshadowing the rebound. However, the 200-day SMA divergence underscores unresolved long-term bearish pressure. Overall, indicators suggest a tactical bullish bias, warranting vigilance at resistance thresholds. Probabilities favor upside continuation toward $233-$235 if $230 is sustainably cleared, though reversal risks persist near long-term moving averages.