Truckers Getting Hit by the Rails
- Posted by Greg Harmon
- on January 23rd, 2012
Stock prices of everything with wheels on it, Trains, Trucks, Tractors, shippers, you name it, have been on fire lately. But over the last two days that rally has been de-railed by earnings reports from the Railroads. Several of the truckers are reporting this week but there are still some you can safely play without worrying about earnings surprises. Here are 3:
Con-Way Inc, $CNW
Con-Way Inc, $CNW, broke out over resistance last Thursday and drove over the 200 day Simple Moving Average Friday only to get knocked back like the video above on Monday. It remains over support at 30.48 with 29 below that. It also has a Relative Strength Index (RSI) that is better to the upside and a Moving Average Convergence Divergence (MACD) that is positive and growing. Both support more upside. Today’s move brings it back within the Bollinger bands. This may be your opportunity to get in the cab and drive it off against a stop at 30. It reports earnings February 2nd.
Landstar Systems, $LSTR
Landstar Systems, $LSTR, pulled back to support at the July high, within the rising wedge but came back strong intraday. The RSI remains bullish with a MACD that is also positive, both supporting further upside. Use that 49 support to trade against and ride the wedge higher this price higher. This also reports on Groundhog Day.
Heartland Express, $HTLD
Heartland Express, $HTLD, posted a small body candle w2ith long upper and lower shadows, signaling indecision. looking into the intraday details shows a move higher at the open quickly reversed to the low of the day before recovering. It also held the support of the break higher over 14.50. A bullish consolidation at resistance from September and October peaks. The RSI remains bullish with a MACD that is positive and increasing. Both will support more upside. A move over 14.75 can continue higher and the Bollinger bands are opening a path for it to drive higher. And they have already reported.
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- Dollar Break Out Confirmation
- Time to buy a Pepsi
- Premium Earnings 8-4-15
- Puerto Rico defaults , Municipal bonds yawn
- VMWare shows real and relative strength
- Premium Earnings 8-3-15
- Top Trade Ideas for the Week August 3, 2015: Bonus Idea
- Top Trade Ideas for the Week of August 3, 2015: The Rest
- Top Trade Ideas for the Week of August 3, 2015: The Rest Premium
- Top Trade Ideas for the Week of August 3, 2015: The Best