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Fedex Corp Shares Soar (NYSE: FDX),

|Includes:FedEx Corporation (FDX)

October 19, 2012 (By Frank Kollar)

Shares of Fedex Corp (NYSE: FDX) have been on fire over the past several weeks. Can the rally continue?

Last week Fedex announced a restructuring plan that investors had been expecting. But they had not been expecting the improvement in profits the company expects by year 2016. 1.7 billion announced vs around 1 billion expected.

Shares have been in rally mode and the announcement just kept the rally going. The question is how much higher can they go?

Fedex was trading around $93.50 at the time this report was written. There is strong resistance around $96 a share and then highs that go back to 2008 are at the $100 level.

Chart Courtesy of

A buy now should see $96 a share to $100 a share, but after that it will depend on what investors think the long-term future holds. If they believe in the new restructuring, the stock could breakout above $100 a share.

If it does, there could be considerably higher highs ahead.

The ( Stock Timing Strategy does not have a position in Fedex Corp.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: FDX