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FedEx Clears 50-Day, Forms Short Pattern.(B)(NYSE STOCKS IN THE NEWS)

Investor's Business Daily

| September 01, 2004 | COPYRIGHT 2004 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: JONAH KERI

FedEx has formed a base-on-base pattern the last six weeks. The stock gapped above its 50-day moving average last week and has since edged slightly lower in quiet trade, a bullish sign.

The air and ground shipping giant posted year-over-year sales growth of 21% last quarter following four straight quarters of single-digit growth. Earnings swelled 45%. The Transportation-Air Freight group ranks a strong 12th among the 197 industries tracked by IBD.

FedEx sports an A- Accumulation/Distribution Rating, which shows more buying than selling among institutional investors.

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