by Sam Collins | March 26, 2010 1:44 am
JB Hunt Transport Services Inc. (JBHT[1]) – This transportation company has been in a consolidation since hitting a bottom in March 2009. After rebounding from a low of just over $18, JBHT quickly jumped to the $30s, but then had a difficult time breaking from an extended right triangle[2].
On Jan. 12, at $33.79, I said[3], “Heavy buying is driving the stock through resistance[4] at $34 with a likely trading target of $40-plus.”
On March 16, I said[5], “My timing was off on this trade, and with the market correction JBHT pulled back to $30 and executed a trading buy signal and daily reversal. Again at $33, another buy signal was given as the 20-day moving average passed through the 50-day moving average[6].”
After a new high at $36.69, the stock has pulled back to its breakout point, which is normal, where a new Collins-Bollinger Reversal (CBR) buy signal and a new stochastic buy were generated yesterday.
The trading target remains at $40-plus, and S&P recommends the stock as a “four-star buy” with a fundamental target of $39.
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by Sam Collins | March 11, 2010 4:35 am
JB Hunt Transport Services Inc. (JBHT[1]) – This transportation company has been in a consolidation since hitting a bottom in March. After rebounding from a low of just over $18, JBHT quickly jumped to the $30s, but then had a difficult time breaking from an extended right triangle[2].
On Jan. 12, at $33.79, I said[3], “Heavy buying is driving the stock through resistance[4] at $34 with a likely trading target of $40-plus.”
My timing was off on this trade, and with the market correction JBHT pulled back to $30 and executed a trading buy signal and daily reversal.
Again at $33, another buy signal was given as the 20-day moving average passed through the 50-day moving average[5].
The technical trading target is now $40-plus, and S&P recommends the stock as a “four-star buy” with a fundamental target of $39.
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