FedEx shares gain for a second straight session on Friday, company will not charge extra fees for most deliveries in peak season

According to an announcement by FedEx Corporation (FDX) on Friday, it, unlike rival United Parcel Service Inc, would not charge additional fees for the majority of home deliveries during the busy holiday shopping season. An exception will be unauthorized or over-sized packages as well as those requiring additional handling.

FedEx shares closed higher for a second consecutive trading session in New York on Friday. The stock went up 0.91% ($2.20) to $243.32, after touching an intraday high at $244.07, or a price level not seen since August 1st ($245.70).

Shares of FedEx Corporation have retreated 2.49% so far in 2018 compared with a 6.24% gain for the underlying index, S&P 500 (SPX).

In 2017, FedEx Corp’s stock surged 34.02%, thus, it outperformed the S&P 500, which registered a 19.42% return.

The delivery company said that a $3.20 charge would be associated with a package requiring additional handling at FedExs express business in the United States as well as at its US and international ground services.

At the same time, a surcharge of $27.50 would be associated with an over-sized package.

Additionally, there would be a surcharge of $150 on unauthorized packages at FedEx Corps US and international ground business.

Due to recent expansion of e-commerce, FedEx and its competitor, United Parcel, are forced to cope with higher volumes of huge items, such as sofas and TV sets, increasingly ordered by clients on-line.

According to CNN Money, the 25 analysts, offering 12-month forecasts regarding FedEx Corporation’s stock price, have a median target of $290.00, with a high estimate of $360.00 and a low estimate of $245.00. The median estimate represents a 19.18% upside compared to the closing price of $243.32 on August 3rd.

The same media also reported that 20 out of 29 surveyed investment analysts had rated FedEx Corporation’s stock as “Buy”, while 5 – as “Hold”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, todays levels of importance for the FedEx stock are presented as follows:

R1 – $243.68
R2 – $244.03
R3 (Range Resistance – Sell) – $244.39
R4 (Long Breakout) – $245.45
R5 (Breakout Target 1) – $246.70
R6 (Breakout Target 2) – $247.25

S1 – $242.96
S2 – $242.61
S3 (Range Support – Buy) – $242.25
S4 (Short Breakout) – $241.19
S5 (Breakout Target 1) – $239.94
S6 (Breakout Target 2) – $239.39

By using the traditional method of calculation, the weekly levels of importance for FedEx Corporation (FDX) are presented as follows:

Central Pivot Point – $243.57
R1 – $248.37
R2 – $253.41
R3 – $258.21
R4 – $263.00

S1 – $238.53
S2 – $233.73
S3 – $228.69
S4 – $223.64