Hurry, Swift Transportation is About to Move Again


Back in July Swift Transportation started a move higher out of consolidation. I noted it here. Since then the stock has moved up 27% above the break out area at 17.35. So why do I think it is time to re-up your position or initiate a new one in a stock that has moved that far in 3 months? The answer is in the chart.

The chart below shows the consolidation that occurred from February through to July, and then the break out higher. It ran up near $20 before consolidating again for 5 weeks. That changed again in September as the price took another turn to the upside. This time there was a pause at 22 and then a retracement into the end of last week. A warmly received earnings report now has the stock back at 22 and pushing higher.


Both a Positive RSI Reversal and a Measured Move give an upside target to 23.25 as a next leg. The RSI is in the bullish zone and the MACD has crossed up and is bullish. The Bollinger BandsĀ® are opening to the upside to allow a move now too. Are you ready to own a stock that is driving higher?

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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.

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