FedEx (FDX) is set to report its fiscal Q3 results on March 19 after the market closes, and expectations are mixed heading into the print. Analysts see revenue improving, but earnings declining year over year. This reflects that FDX is still facing cost pressures while taking efficiency initiatives. However, the stock’s technical indicators signal that momentum is turning in FedEx’s favor.
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According to TipRanks Technical Analysis tool, FDX stock is a Buy, implying further upside from current levels. Shares of the company have gained 22.8% in the past three months.
Analyzing FDX Stock’s Technical Indicators
According to TipRanks’ easy-to-understand technical analysis tool, FedEx stock is currently on an upward trend. The stock’s 50-day Exponential Moving Average (EMA) is $345.81, while its price is $351.7, implying a bullish signal.
Further, the Moving Average Convergence Divergence (MACD) indicator, which helps understand momentum and potential price changes, signals a Buy.
Another technical indicator, Williams %R, helps traders see if a stock is overbought or oversold. For FDX, Williams %R currently shows a Buy signal, suggesting the stock is not overbought and has room to run.
Is FDX a Good Stock to Buy Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on FDX stock, based on 16 Buys, six Holds, and two Sells assigned in the last three months. The average FedEx share price target is $384.70, which implies a potential upside of 9.39% from current levels.
