Shares of J.B. Hunt Transport Services (JBHT) are trying to turn around.
In this first chart of JBHT, above, we can see two lows, or bottoms, at the $70 level (which is serious support, see chart 2, below). JBHT has rallied over the 50-day Simple Moving Average, but the slope of the average is still pointed down. The On-Balance-Volume line (OBV) is inching higher and the Moving Average Convergence Divergence (MACD) oscillator is rising. These indicators could present a stronger case, but the price pattern is likely to carry the day.
In the longer-term chart of JBHT, above, we can see the declining 40-week moving average (bearish) and the strong support around $70 (notice how the $70 level has held on numerous occasions since early 2013). The OBV line is inching lower, but the MACD oscillator is close to a crossover. With a combination of strong support and a potential double-bottom pattern versus mixed indicators, we only give JBHT an upside target in the low $80s -- or the underside of the 40-week moving average.