FedEx Looks Vulnerable to Even Further Declines

FedEx Looks Vulnerable to Even Further Declines

In this daily bar chart of FDX, below, we can see that the shares have gapped sharply lower and continued to weaken. The On-Balance-Volume (OBV) line has been in a decline since January and it is still making new lows. In the weekly Japanese candlestick chart of FDX, below, we can see the past five years of price action.