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Could FedEx (FDX Stock) fall to a new 52W low level?

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Today’s instrument is the FedEx corporation traded in NYSE under the ticker FDX.

Looking at the FDX’s chart, we can see that after last week’s announcement of its much worse-than-expected quarterly earnings, the stock keeps on losing value, dropping from the level of around $210 to the current level of around $153.25 which is its 52W low.

Today, if it manages to stay above that level, then we could expect it to rise towards its resistance level at around $163 otherwise it should fall to a new 52W low level.


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