FedEx could go lower.

MMHVWPI - earnings missed - retesting support. Break down and next support 124.56.

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NEW YORK, Sept 20 (Reuters) – A profit warning and muted outlook from package delivery company FedEx Corp is prompting some high-profile fund managers to prepare for the trade war between the United States and China to last longer than many had originally anticipated.
Shares of the shipping company, whose business is often seen as a proxy for growth in the global economy, tumbled 13%
Wednesday, a day after it said it planned to ground some planes and cut costs due to the effects of the trade war between the world's two largest economies.
"We were hopeful of a trade deal and some sort of return to normalcy and that has not taken place," FedEx's chief executive,
Frederick Smith, said on its earnings call.

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