Stock Picks – JB Hunt Transport Services Inc-JBHT

JB Hunt Transport Services Inc. (JBHT) – 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.    

On Jan. 12, at $33.79, I said, “Heavy buying is driving the stock through resistance at $34 with a likely trading target of $40-plus.”

On March 16, I said, “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.” 

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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