Closed out a short position after today's drop in Nasdaq and then went long on the reversal/bounce off the low $182's. Looking to see to what extent the Head & Shoulders pattern plays out beyond $186.
If we stay above the 200 MA, $190 would be the first profit target, with a possible short to retest $186.00.
NASDAQ:JBHT
The PEAD projected a Bullish outlook for $JBHT after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 66.67%.
The PEAD projected a Bullish outlook for $JBHT after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 57.14%.
The PEAD projected a Bullish outlook for $JBHT after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 60%.
JB Hunt Transport Services Inc (JBHT)
Report on 18/04/2022 transportation services
BUY - 166
TP - 185
SL - 158
The fall from the peak of 218$ in the middle of March is mainly due to overall market trends and pricing in the potential recession in transportation which can be caused by FED rate hike and subsequent overalll economic activity slowdown. Similar...
..tanking big time and the dip is mainly due to this article (to some extend also the job report).
Great insight from the real-economy (yes, it still exists, somewhere out there).
I also recommend to read the RH earnings call I posted a couple days earlier ( link ).
A Wolfe Wave is a chart pattern composed of five wave patterns in price that imply an underlying equilibrium price. Investors who use this system time their trades based upon the resistance and support lines indicated by the pattern.
$JBHT one heck of a hammer candle at breakout support and 21 EMA
Large breakout candle acting as a mini coil.
Looks to be the leader in Trucking Transportation group.
$JBHT holding up very well even compared to its own peers.
Been keeping an eye on it for a potential setup.
What is flagging warning signals is the very high volume on this right side tightening. Not a fan. The opposite of what you want to see.
On watch for now due to RS.
Daily Chart Report
JBHT looks like it's gonna start heading lower. All the indicators are showing some bearish trend and we also see some increasing volume on red candles for the past few days. If the 194 support level is taken out then it will head to 185 within days. The chart is only bearish for the short term. On the long term it is still in a bull trend.
$JBHT broke out of a 6 month base on earning and looks ready to start its next leg higher.
I love setups with shakeouts and we got one here on $JBHT (red circle)
Transportation group Top 3 right now.
* Great earnings year-over-year
* Very strong up trend
* High 3-month relative strength in the Industrial sector
* Was in a ~7 month consolidation
* Recent earnings caused a break away gap and a tight range for 3 weeks
* This created a base on base pattern
* Breaking out of a very tight 3 week consolidation of 2.49% with higher than average volume
Trade Idea:
*...
Pull back today which puts JBHT closer to long entry level. Possible stop under C or last pivot low.
Earnings around the corner so this could go lower. Folks get nervous and seems a lot of selling occurs when earnings are close.
The auto fib tool on here can help with nailing C. It is not always right and sometimes C goes lower. JBHT does have a long AB leg,...
Entered this trade based off of the entry discussed in the weekly market watch video.
Bought 2, 19 March 2021 $165 at a cost basis of $1.05
Side note I think I just missed my exit while posting this haha
NASDAQ:JBHT
May be an interesting trade that can turn from intraday/swing into long-term.
Buy/Sell Zones indicate an uptrend + a lot of bullish momentum lately.
Short-term Long targets are all-time high up to 0,618 Fib (but may be extended even higher - should see how strong the resistance will be)
Invalidation: closing lower than the previous...
