Corpay Stock Plunges 5.2% as Death Cross Signals Prolonged Bearish Trend

Candlestick Theory
Corpay's recent price action reveals a concerning candlestick formation. The most recent session (July 11, 2025) printed a long red candle closing near its low at $324.39, engulfing the prior day’s modest gains and signaling strong selling pressure. Key resistance is established at $332.76–$335.68 (July 7–10 highs), while the $323.94–$325.11 zone (July 11 low and May 29 low) offers immediate support. A sustained break below this level may trigger further downside toward the $315–$318 consolidation area from April–May.
Moving Average Theory
The moving average configuration shows deteriorating trend strength. The 50-day MA (currently near $337) crossed below the 200-day MA (near $340) in late June, confirming a death cross. Price remains below all key EMAs (50, 100, 200-day), with the 200-day MA acting as formidable resistance. The consistent trading below the 50-day MA since mid-June reinforces intermediate bearish control.
MACD & KDJ Indicators
MACD histogram resides in negative territory with no imminent bullish crossover signal, indicating sustained downward momentum. KDJ oscillators show the %K line (21) and %D line (29) in oversold territory but without bullish convergence. This divergence suggests weak reversal potential despite oversold readings. MACD’s bearish momentum alignment outweighs KDJ’s oversold signal.
Bollinger Bands
Bollinger Bands are expanding with price pressing the lower band ($323–$325), reflecting increasing volatility favoring bears. The July 11 close below the lower band hints at short-term oversold conditions but requires confirmation for a mean-reversion bounce. Band expansion amid declining prices typically signifies accelerating downside momentum.
Volume-Price Relationship
Recent distribution days validate bearish sentiment. The July 11 decline occurred on 430K shares traded—above the 30-day average—signifying conviction behind the sell-off. Down days since June 13 (e.g., July 11, July 7) consistently show higher volume than up days (e.g., July 10), confirming weak demand. Declining volume during minor rebounds further undermines recovery potential.
Relative Strength Index (RSI)
The 14-day RSI hovers at 38, below the neutral 50 level but not yet oversold (<30). This suggests room for further downside before reaching extreme conditions. Notably, RSI failed to breach 55 during June’s rebound attempts, reflecting persistent bearish momentum. Historical reversals occurred near RSI 30 (e.g., April 2025), making that level a watch zone.
Fibonacci Retracement
Using the April 2025 swing low ($270.28) and June 2025 peak ($358.52), key Fibonacci levels emerge: 38.2% retracement at $327.42 (recently breached), 50% at $314.40, and 61.8% at $301.38. Price is testing the 38.2% level, with the 50% retracement aligning with multi-month support near $314–$317 (March–April highs). A break below $323 may target this $314–$317 confluence zone.
Confluence & Divergence Summary
Multiple indicators align for bearish bias: death cross confirmation, volume-backed breakdowns, and price below all key MAs. Divergence exists in KDJ showing oversold while MACD maintains bearish momentum, delaying reversal signals. The $314–$317 zone (50% Fibonacci + historical support) presents a critical inflection point where oversold bounce potential may emerge. However, absent volume-supported reversal candles or MACD bullish crossover, near-term downside remains probable.
Conclusion
Technical posture for Corpay is bearish-biased, with resistance layered at $332–$337 and critical support near $314–$317. Confirmed breaches below $323 could accelerate declines toward $314. While short-term oversold conditions exist, indicator alignment suggests favoring downside until bullish volume or candlestick reversal patterns emerge near key Fibonacci zones.