Watch These FedEx Levels as Stock Jumps on Plans for Freight Business Spinoff

Core Insights - FedEx announced plans to spin off its freight business as a separate public company, which has led to a significant increase in its stock price during extended trading, despite a lowered full-year outlook for fiscal 2025 [2][9][10] - The company has lowered its full-year fiscal 2025 outlook due to challenging conditions, particularly weaker demand from business customers, although December volumes have exceeded forecasts [3][9] Stock Performance - FedEx shares have increased by 9% since the beginning of the year, but this performance lags behind the S&P 500's 23% return during the same period [11] - The stock rose nearly 9% to $300 in extended trading following the announcement [11] Technical Analysis - FedEx shares have been trading within an orderly ascending channel since July of the previous year, with key overhead resistance levels identified around $305 and $370, and important support levels near $278 and $255 [5][9][15] - The stock has found buying interest around the 50- and 200-day moving averages, with trading volume reaching its highest level since late September [17] Future Projections - The spinoff is expected to generate up to $20 billion in shareholder value by streamlining operations and merging the Express and Ground units, which could enhance profitability [10] - A target price of $370 has been projected based on the measured move technique, indicating a potential upside of approximately 34% from Thursday's closing price [14]