FedEx Charts Flash Bearish Signals Ahead Of Q2 Earnings, Analysts See 26% Upside

FedEx Corp FDX will be reporting its second-quarter earnings on Thursday after market hours.

Wall Street expects $3.91 in earnings per share and $22.11 billion in revenues. The stock is down 1.45% over the past year, but it’s up 9.27% over the past six months.

Let’s look at how the Memphis, Tennessee-based company currently maps against Wall Street estimates.

Read Also: FedEx Braces For Q2 Earnings: ‘One Of The Most Consequential Quarters In Years,’ Analyst Says

FedEx Stock Chart: Bearish Ahead Of Q2 Earnings

FedEx stock is exhibiting strong bearish momentum, positioned at $276.46, below the five-day, 20-day and 50-day exponential moving averages, indicating sustained selling pressure.

Chart created using Benzinga Pro

The eight-day simple moving average (SMA) at $279.76, 20-day SMA at $287.43 and 50-day SMA at $281.67 all further reinforce the bearish outlook, as the stock remains consistently below these critical levels.

Though, the 200-day SMA at $276.13 might hint at some longer-term bullish sentiment.

The Moving Average Convergence Divergence (MACD) at a negative 2.42 signals downside momentum, while the Relative Strength Index (RSI) at 40.45 indicates the stock is approaching oversold conditions but still within bearish territory.

Investors should exercise caution as technical indicators point to continued risk of bearish movement for FedEx stock.

FedEx Analysts See 26% Upside

Ratings & Consensus Estimates: The consensus analyst rating on the stock stands at a Buy with a price target of $308.69. The latest analyst ratings from JPMorgan, Bernstein and Barclays suggest a 26.36% upside for FedEx stock, with an average price target of $349.

Price Action: FedEx stock was trading at $274.40 a share at the time of publication.

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