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Recent 52-Week High Exceeded in Shares of Knight Transport (KNX)

By Shiri Gupta

Shares of Knight Transport (NYSE:KNX) traded today at $40.30, breaking its 52-week high. So far today approximately 533,000 shares have been exchanged, as compared to an average 30-day volume of 1.1 million shares.

Knight Transportation, Inc. is a short-to-medium haul and dry van truckload carrier. The Company transports general commodities, including consumer goods, packaged foodstuffs, paper products, beverage containers, and imported and exported commodities. Knight Transportation serves customers in the United States, Canada, and Mexico.

Over the past year, Knight Transport has traded in a range of $24.79 to $40.30 and is now at $40.20, 62% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

Knight Transport (NYSE:KNX) is currently priced 2.3% above its average consensus analyst price target of $39.27. The stock should discover initial support at its 50-day moving average (MA) of $25.94 and subsequent support at its 200-day MA of $25.55.

SmarTrend recommended that subscribers consider buying shares of Knight Transport on June 7th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $34.65. Since that recommendation, shares of Knight Transport have risen 12.7%. We continue to monitor KNX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows knight transport

Ticker(s): KNX