FedEx Stock Is Taking Flight: Can It Deliver Gains In 2023?

The US transportation industry has long been a key component of the global economy and economic growth, connecting businesses and consumers across long distances and facilitating the movement of goods and people.


The transportation sector's growth and performance are closely tied to the overall economic health of the country. During periods of economic expansion, transportation companies tend to experience increased demand for their services, while economic downturns can lead to reduced activity and revenue.


The stability and development potential offered by transportation companies can be attractive to investors looking for chances in this dynamic industry. The transportation sector has shown huge strength in the face of challenges, adjusting to shifting market conditions and advances in technology.


FedEx Corporation: commonly known as FedEx, is a global services company headquartered in Memphis, Tennessee, USA. It was founded in 1971 and has grown to become one of the world's largest logistics and transportation companies.


From a technical point of view, the stock has been moving in an upward trend since September 2022 and has risen by about 50% since the beginning of this year, to currently trade near levels of $260 per share. We will monitor whether the stock can break through important resistance around $267 per share over the upcoming period.




Figure 1: FedEx, Trading Chart, Source: TradingView



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