Showing posts with label Transportation. Show all posts
Showing posts with label Transportation. Show all posts
Saturday, May 24, 2008
JBHT - J.B Hunt
JBHT traded in a range for a number of years before making clear double-bottom at exactly $2.15...Began a steep uptrend thereafter characterized by a very lengthy flag formation... Currently, JBHT is enjoying a big up move with the rest of the trucking sector and is performing relatively well within the space... Looks a little overdone to the upside, having just been rebuffed from the RED resistance trend-line that forms the top of the flag pattern.
Sunday, January 27, 2008
YRCW - Yellow Roadway
SHORT TERM
YRCW, finally found a BOTTOM at least on a short term basis beginning in 2008. On the SHORT TERM CHART faced resistance around $15, broke out, and then rode SUPPORT TURNED RESISTANCE along $15 before spiking to the $19 level where it has met with some selling. That being said, the TRUCKING sector has gotten some recent UPGRADES and it is impressive that YRCW has been gaining steadily. I guess some kind of pullback is in order and I'd keep an eye on a breakout over $19...
DAILY
YRCW, has declined precipitously including a drop from $38 in July 2007 to a low around $12 within the past month. At this point the BLACK DOUBLE DASHED MID-LINE is acting as a RESISTANCE ZONE. In addition, BLUE TREND-LINE RESISTANCE is providing a concomitant ceiling to prices which are now above a SINGER EMA BAND that has started to rise. Any eventual breakout over this $20-$22 range will signal a more lasting turn upwards, though I can't help but think we are a little overdone to the upside near term...
WEEKLY
When your stock price declines from $65 to $12 over a three year period, there is not much good that can be said. On the WEEKLY chart, YRCW has been declining in a descending channel that has been broadening as it heads lower. After hitting $12 recently, we have seen a huge spike on high volume that has brought the price from DECLINING GREEN TREND-LINE SUPPORT back up to BLACK DASHED MID-LINE RESISTANCE. Simultaneously, the price has mean reverted to the lower average in the SINGER EMA BAND. That means heavy resistance at these levels but also signals that sentiment has finally turned and that we should look for a formation of a base...
MONTHLY
YRCW was once a stock market darling rising steadily from $10 to $65 by mid- 2005. However, it then lost all of those gains over the past three (3) years time, falling through the bottom of what looked to be TRIANGLE CONSOLIDATION. As a result, a grossly oversold condition arose, as can be seen with the recent massive bounce which left a large HAMMER BOTTOM on the MONTHLY candlestick chart. Judging by the position of the SINGER EMA BAND this rebound looks like it could get up the the low $30's after a near term pull back...
YRCW, finally found a BOTTOM at least on a short term basis beginning in 2008. On the SHORT TERM CHART faced resistance around $15, broke out, and then rode SUPPORT TURNED RESISTANCE along $15 before spiking to the $19 level where it has met with some selling. That being said, the TRUCKING sector has gotten some recent UPGRADES and it is impressive that YRCW has been gaining steadily. I guess some kind of pullback is in order and I'd keep an eye on a breakout over $19...
DAILY
YRCW, has declined precipitously including a drop from $38 in July 2007 to a low around $12 within the past month. At this point the BLACK DOUBLE DASHED MID-LINE is acting as a RESISTANCE ZONE. In addition, BLUE TREND-LINE RESISTANCE is providing a concomitant ceiling to prices which are now above a SINGER EMA BAND that has started to rise. Any eventual breakout over this $20-$22 range will signal a more lasting turn upwards, though I can't help but think we are a little overdone to the upside near term...
WEEKLY
When your stock price declines from $65 to $12 over a three year period, there is not much good that can be said. On the WEEKLY chart, YRCW has been declining in a descending channel that has been broadening as it heads lower. After hitting $12 recently, we have seen a huge spike on high volume that has brought the price from DECLINING GREEN TREND-LINE SUPPORT back up to BLACK DASHED MID-LINE RESISTANCE. Simultaneously, the price has mean reverted to the lower average in the SINGER EMA BAND. That means heavy resistance at these levels but also signals that sentiment has finally turned and that we should look for a formation of a base...
MONTHLY
YRCW was once a stock market darling rising steadily from $10 to $65 by mid- 2005. However, it then lost all of those gains over the past three (3) years time, falling through the bottom of what looked to be TRIANGLE CONSOLIDATION. As a result, a grossly oversold condition arose, as can be seen with the recent massive bounce which left a large HAMMER BOTTOM on the MONTHLY candlestick chart. Judging by the position of the SINGER EMA BAND this rebound looks like it could get up the the low $30's after a near term pull back...
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