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FedEx Stock Chart Breakdown Signals More Downside

Shares of FedEx Corp (FDX) are slightly lower today after a major multi-week sell off from over $300 to the current $252.75. While investors may be inclined to buy FedEx here as an investment, the chart signals further downside. The FedEx stock chart breakdown is seen  by current price being below major support that it broke yesterday. While a small bounce is likely, further downside will resume and the price target is $232.00. That means another full $20 drop on FedEx until it hits a more substantial support level.

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FedEx Stock Chart Breakdown shown on the chart below…