Truckin’

• Posted by Greg Harmon
• on December 20th, 2011

Despite higher levels for Oil, trucking company’s stock prices are looking up. No really. Let’s take a look at three that are primed to move higher, J.B. Hunt Transport Services, $JBHT, Knight Transportation, $KNX and Old Dominion Freight Lines, $ODFL.

J.B. Hunt Transport Services, $JBHT

J.B. Hunt Transport Services, $JBHT, had a large run up from the September lows and then paused and pulled back in early December. After finding support near the 50 and 200 day Simple Moving Averages (SMA) and previous consolidation through October into November, it is rising again. It has a bullish Relative Strength Index (RSI), a Moving Average Convergence Divergence (MACD) indicator that is about to cross positive and the 50 day SMA is about to make bullish Golden Cross up through the 200 day SMA. The Measured Move (MM) in the stock would take it to 48 first, near the July highs and then 54.

Knight Transportation, $KNX

Knight Transportation, $KNX, had a similar pattern rising from October lows only to pullback and then work higher again. It is now moving to test resistance at the 15.68 area with a bullish RSI that is trying to rise and a MACD that is about to cross bullishly positive. The 50 day SMA here has crossed the 100 day SMA but still has some work to reach the 200 day SMA for that Golden Cross. It is poised to move higher and through that resistance has nearly 42 of upside before resistance.

Old Dominion Freight Lines, $ODFL

Old Dominion Freight Lines, $ODFL, is another with that rise off of the October lows and then a pullback and second rise. This company is already breaking into new highs though over 40. And with a RSI that is bullish and rising, a MACD crossing positive and already printed a Golden Cross it has a tailwind moving higher to a Measured Move at 43. Time to get truckin’.

If you like what you see and want to know how to trade these names sign up for more ideas and deeper analysis using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits feed and on chartly.

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