JB Hunt Transport Services Inc. (JBHT) — 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.
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.”
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.
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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