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FDX stock forms a rising parallel channel and is waiting for a bounce.
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FDX stock showcased a hammer candlestick near the channel lows.
FedEx Corporation (FDX stock) price continues to uplift the gains and extend the bullish move inside the rising parallel channel, forming higher highs over the past sessions. Moreover, FDX stock price action indicates buyers accumulation and shows an interest in making long build-ups. Furthermore, the chart structure shows an uptrend, and a further rebound will take FDX beyond the immediate swing hurdle of $270.
FDX stock (NYSE: FDX) price is near the channel lower trendline, and buyers are looking for a pullback to make a new higher high above the 20-day EMA spot of $260. However, buying interest was witnessed on the charts, and FDX stock continues to gain traction, showing bullish dominance over the past months. Recently, FDX stock has shown a range breakout and gained momentum beyond the cluster of $230. Afterwards
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