FedEx is a 'bottom-fishing' stock heading into earnings, technical analyst says

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FedEx is a 'bottom-fishing' stock heading into earnings, technician says $FDX (via TradingNation)

The delivery company heads into its earnings release Tuesday with major losses. The stock has tumbled 36% from a 52-week high set in September, more than any of its peers.

" on Friday. "It has pulled back about 44% off the highs you've seen in January of 2018 and it looks like you're forming some sort of double bottom in here." "You've got really good support at $150," Johnson said. "Sentiment seems really negative. I'd be a buyer of this stock in here and I think a lot of the bad news is already baked into these shares."

 

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