FedEx Corporation (FDX) advanced in its latest intraday trading, supported by positive signals from momentum indicators after the stock succeeded in offloading its overbought conditions, giving it more room to extend gains. This comes amid the dominance of a short-term corrective uptrend, with the stock moving along a supportive trend line, while maintaining dynamic support from trading above its 50-day SMA.

Therefore we expect the stock price to rise in its upcoming trading, as long as it remains above the support level at $268.70, targeting the key resistance level at $304.75.

Todays price forecast: Bullish