- Analytical Commentary -

March 24, 2010 (FinancialWire) (By Frank Kollar) — Shares of Fedex Corp (NYSE: FDX) broke out above their September 2008 bear market rally highs on Tuesday, March 23.

Fedex reached this level, at $92 a share, back in December but reversed and turned lower until bottoming in February and starting the current advance.

Fedex also closed above a critical resistance level, the 61.8% retracement of the entire bear market decline. This level, at $88 a share, was also surpassed last week.

Closing above these important levels points to Fedex reaching the next resistance level in coming weeks. That is at $99, which was the May 1, 2008 bear market rally high.

If that target is surpassed in coming weeks, Fedex has a good shot at making a run to its all time highs at $120 a share in coming months.

Disclosure: The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy holds a position in Fedex Corp.

Frank Kollar has been timing the financial markets since 1982, with online service since 1996. He is a dedicated trend timer and his strategies exited the markets before the crash in 1987 as well as the bear market in 2000 through 2002. During the 2000-2002 and 2008 bear markets, his bearish positions resulted in gains exceeding 100 percent, all achieved by trading trends.

Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.

Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.

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