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Frank started market timing in 1982 when the Federal Reserve cut interest rates and sparked the 1980’s bull rally. Realizing that this rally could have been forecasted, he began to search for indicators which had similar forecasting ability. Within a year, his first newsletter was launched,... More
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  • Fedex Corp Shares Soar (NYSE: FDX),  0 comments
    Oct 18, 2012 3:16 PM | about stocks: 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 StockCharts.com

    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 Fibtimer.com (http://www.fibtimer.com) 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
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