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Now, profit-taking time again.
On Thursday, FedEx (FDX) released a pretty good third-quarter results by allowing the market to see the prosperity of their express service. Most of the time, investors in FedEx's performance will be seen as a microcosm of the overall health of the economy, and this time, Federal Express described is clearly most optimistic prospects in recent days.
Why then is FedEx's shares initially fell rather than rose in opened? the answer is very simple, this is the used market.
Information provided by FactSet Research showed that over the past four quarters, FedEx's performance has been better than Wall Street's consensus forecast. However, every time they are released after upbeat earnings, the stock price is down in trading that day ended.
Thursday's market, at least in the morning is no exception. Federal Express fell in early trading to 3%. Perhaps that is because the company said they plan to upgrade our FY 2010 capital expenditure limits, which gives investors a reason to sell. However, invest more money to their main business, which in any case should be a bullish signal.
Presumably, that is because investors realize that the significance of this point, the stock prices closed higher on Thursday with the final. At this point, said the trend that actually has been going on for a year came to an end.
In fact, FedEx shares fell, the overall gain of the unit in the past 12 months reached approximately 110%, while at the same time, Dow Jones Transportation average gains but only 67%.
Since recently, investors are watching the Dow Jones Transportation average index and the Dow Jones industrial average, and hope they are both more than prior to the 2010 annual high. Eventually, the two major indices did not disappoint investors. After the close of Wednesday's trading, Dow theorists can finally announce that the overall trend of the market has been bullish.
Under this market, Federal Express is more in his element. At present, all analysts the goals set for the unit price averages US $ 99.44, while the stock's closing price on Thursday was 92.67 dollars, which means that the rise in stock prices still has a space.
It is regrettable that, as shown in the market Thursday morning, markets will not forget profit taking this thing, because it is indeed a very logical thing, therefore only investors to sell Federal Express, to celebrate exemplary performance scene.