Possible Bullish Inside Day Candle Pattern Detected for JB Hunt Transport Services (NASDAQ:JBHT)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in JB Hunt Transport Services (NASDAQ:JBHT) based on the price action in the company's shares. Yesterday's price range of $76.97 and $78.37 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. Traders and investors interested in shares of JB Hunt Transport Services may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
There is potential upside of 11.3% for shares of JB Hunt Transport Services based on a current price of $78.26 and an average consensus analyst price target of $87.14. The stock should find resistance at its 50-day moving average (MA) of $83.24, as well as support at its 200-day MA of $77.24.
Over the past year, JB Hunt Transport Services has traded in a range of $63.58 to $93.50 and closed yesterday at $78.26, 23% above that low. The 200-day and 50-day moving averages have moved 0.04% lower and 0.62% higher over the past week, respectively.
J.B. Hunt Transport Services, Inc. and its subsidiaries provide transportation and logistics services in the United States, Canada, and Mexico. The Company transports a variety of products including automotive parts, department store merchandise, paper and wood products, food and beverages, plastics, chemicals, and manufacturing materials and supplies.
SmarTrend recommended that its subscribers protect gains by selling shares of JB Hunt Transport Services on May 3rd, 2016 by issuing a Downtrend alert when the shares were trading at $82.46. Since that call, shares of JB Hunt Transport Services have fallen 6.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: bullish am inside day candle JB Hunt Transport Services