December 9, 2009 (FinancialWire) (By Frank Kollar) — FedEx Corp (NYSE: FDX) gave guidance for earnings of $1.10 a share for the fiscal second quarter, exceeding its previous forecast of 95 cents a share. The news prompted a 2.7% rally on Tuesday, December 8.

The advance propelled share prices above the 61.8% retracement and resistance level for the entire 2008 bear market decline. This forecasts a run to at least the next resistance level.

For FedEx, the next resistance level and target for this rally is at $92.00 a share. This was the September 16, 2008 bear market rally high.

If FedEx breaks above that level, look for $98.65 a share, the May 1, 2008 bear market rally high.

The $115 to $120 level was where FedEx topped out before the bear market began. FedEx needs to top the two levels discussed above. If it does, a run to the old highs is possible.

The http://www.fibtimer.com Stock Strategy has 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 bear market, 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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