Paccar ( PCAR) is known for manufacturing commercial trucks under the Kenworth, Peterbilt and DAF nameplates. Can we draw a line from a bullish chart of PCAR and a bullish US economy? Maybe.
Let's check out the charts.
In this daily bar chart of PCAR, below, I can see an uptrend in progress from July. Prices have made higher highs and trade above the rising 200-day moving average line.
The On-Balance-Volume(OBV) line shows a steady rise the past year as traders have been more aggressive buyers of ths shares. The Moving Average Convergence Divergence (MACD) oscillator is slightly above the zero line now. 
In this weekly Japanese candlestick chart of PCAR, below, I can see that prices made a large sideways continuation pattern in 2021 and 2022. Prices broke out on the upside in late 2022. Prices trade above the rising 40-week moving average line.
Several recent candle patterns show lower shadlows telling me that traders are rejecting the lows and this suggests that the path of least resistance is likely to be higher. The weekly OBV line shows strength and confirms the price gains in recent months. The MACD oscillator is above the zero line but correcting lower.
In this daily Point and Figure chart of PCAR, below, I can see a downside price target in the $65 area. A trade at $73.73 could start to turn this chart positive.
In this weekly Point and Figure chart of PCAR, below, the software projects an upside price target in the $90 area.
Bottom line strategy: The Dow Theory depended on the Transport Average confirming the movement in the Industrials. Does a strong chart of a truck maker count? Maybe. Traders could go long PCAR at current levels risking to $67. Add to longs above $74. The $90 area is my price target for now.
