FedEx Corporation : May afford TNT
By Lara Villeneuve
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$88.75 | $0 | $87.45 | -100% |
On June 2011, FedEx presented remarkable figures for the 2011 fiscal year. With a turnover of 39.3 billion dollars against 34.7 billion in 2010, FedEx showed a remarkable growth which results in net income at 1.4 billion dollars, up to 22% a year. Expected turnover for 2012 is 42.7 billion dollars and net result should set up 2 billion dollars.
FedEx assets are established in an upward long/middle-term trend but the latest movement put it back to an important support level close to 88 USD. This threshold, if he stays preserved, will offer an interesting entry point to take advantage of the positive groundswell.
The objective of a buying strategy will be fixed on short-term resistance of 93 USD before a continuation to the 97 USD level. A stop loss will be positioned on short-term support of 87.45 USD.