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

By Shiri Gupta

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 $112.91 and $113.30 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.

J.B. Hunt Transport Services, Inc. provides logistics services. 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.

Potential upside of 14.8% exists for Hunt (Jb) Trans, based on a current level of $113.05 and analysts' average consensus price target of $129.75. The stock should hit resistance at its 50-day moving average (MA) of $114.87, as well as support at its 200-day MA of $105.88.

In the past 52 weeks, Hunt (Jb) Trans share prices have been bracketed by a low of $83.64 and a high of $122.29 and closed yesterday at $113.05, 35% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.2%.

SmarTrend is monitoring the recent change of momentum in Hunt (Jb) Trans. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Hunt (Jb) Trans in search of a potential trend change.

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

Ticker(s): JBHT