Here's our daily look at three charts linked to recent news-driven price mᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚoves, with key technical lev𒊎els to eye.

FedEx Corporation (FDX)

Shares in package delivery giant FedEx (FDX) were down 11% an hour before the opening bell after the company trimmed its sales outlook amid weaker customer demand. In its fiscal second-quarter earnings report released after the closing bell Tuesday, the company said it now expects a low single-digit decline in revenue for the full fiscal year, down from its prior forecast of sales remaining constant on a year-over-year basis. Wall Street had expected sales contracting less than 1% for the current fiscal year. The company said softening macroeconomic conditions will continue to weigh on delivery demand in upcoming quarters but noted that 澳洲幸运5官方开奖结果体彩网:operating income will improve due to recent cost-cutting initiatives.

Since bottoming out in the third quarter of 2022, FDX shares have trended steadily higher apart from a significant 澳洲幸运5官方开奖结果体彩网:retracement to the 200-day moving average in October. If earnings-driven selling takes place today, keep an eye on a key 澳洲幸运5官方开奖结果体彩网:horizontal line around $270 and an uptrend line that currently sits near the $250 level as potential areas on the chart that may provide support. 

Chewy, Inc. (CHWY)

Chewy (CHWY) popped 9.2% Tuesday after the online pet food and accessories retailer received a broker upgrade from Jefferies. Analysts at the investment bank said they see the stock as a “tail-wagging opportunity,” given the pet retailer’s growth and margin prospects. They specifically noted opportunities in pet health, sponsored ads, and in-house brands. The bank also pointed out that margins should remain healthy as the retailer caters to high-income earners less effected by the current 澳洲幸运5官方开奖结果体彩网:inflationary environment. Jefferies placed a $27 target on the stock, implying 14% upside from Tuesday’s closing price of $23.68.

CHWY has spent most of 2023 in a downtrend apart from a brief summer countertrend rally into the 200-day 澳洲幸运5官方开奖结果体彩网:moving average. Since late November, 澳洲幸运5官方开奖结果体彩网:trading volumes have significantly increased, with yesterday’s upgrade giving the stock enough momentum to break out above last month’s 澳洲幸运5官方开奖结果体彩网:swing high. If the price continues to climb, keep a close eye꧙ on $31 level — an area on the chart that may encounter resistance from a horizontal trendline that extends back to September 2022.

Affirm Holdings, Inc.

Affirm (AFRM) shares jumped more than 15% on Tuesday after the 澳洲幸运5官方开奖结果体彩网:buy-now-pay-later (BNPL) company 澳洲幸运5官♈方开奖结果体彩网:announced that it has expanded its par🐼tnership with big-box retailer Walmart Inc. (WMT). The company said that its monthly pay-over-time options will be rolled out at self-checkout kiosks at more than 4,500 Walmart stores across the U.S, including the discount retailer’s vision and auto centers. The announcement comes a day after investment bank Morgan Stanley 澳洲幸运5官方开奖结果体彩网:downgraded the company's stock over valuation concerns. Year to date, the stock has gained over 400%.

The AFRM share price has continued to trend higher since the 50-day moving average crossed above the 200-day moving average to form a 澳洲幸运5官方开奖结果体彩网:golden cross buy pattern in early July. More recently, above-average volumes have accompanied the latest move to the upside, indicating the participation of larger market participants. However, investors should closely monitor how the price responds to a major horizontal line at the $48.50 lev꧂el that extends back to mid-2021.

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