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Possible Bearish Inside Day Candle Pattern Detected for Hunt (Jb) Trans (NASDAQ:JBHT)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hunt (Jb) Trans (NASDAQ:JBHT) based on the price action in the company's shares. Yesterday's price range of $116.45 and $118.72 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Hunt (Jb) Trans may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 10.2% exists for Hunt (Jb) Trans, based on a current level of $117.70 and analysts' average consensus price target of $129.75. The stock should discover initial support at its 50-day moving average (MA) of $111.15 and subsequent support at its 200-day MA of $101.89.

J.B. Hunt Transport Services, Inc., together with its subsidiaries, provides surface transportation and delivery services in the continental United States, Canada, and Mexico. It operates in four segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), and Truckload (JBT).

Over the past year, Hunt (Jb) Trans has traded in a range of $83.64 to $119.39 and closed yesterday at $117.70, 41% above that low. The 200-day and 50-day moving averages have moved 0.30% higher and 1.01% higher over the past week, respectively.

SmarTrend is tracking the current trend status for Hunt (Jb) Trans and will alert subscribers who have JBHT in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle hunt (jb) trans

Ticker(s): JBHT