J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) — This North American surface transportation company has been in a consolidation since hitting bottom in March 2009.
On June 11 at $33.50 the COD said, “After a new high at over $38 in mid-April, the stock pulled back to its bullish support line where a pair of new CBR buy and stochastic buy signals were flashed. The trading target for JBHT is $40-plus and S&P recommends J.B. Hunt as a 4-Star (BUY) with a fundamental target of $39.”
See Sam Collins’ Daily Market Outlook here.
Since then JB Hunt ran to $36 twice before pulling back to its major support line where on July 1 it issued another of our internal buy signals (CBR).
JBHT’s target is still $40 and should be accumulated as a long-term position.
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