Seattle-based logistics company Expeditors International of Washington (EXPD) has been stuck in a six month consolidation pattern but an upside breakout could be coming soon. Let's check the charts and indicators.
In this daily bar chart of EXPD, below, I can see a saucer-like pattern in the last six months. Prices have stayed above the rising 200-day moving average line The trading volume looks more active since November.
The daily On-Balance-Volume (OBV) line shows weakness. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line but correcting to the downside.
In this weekly Japanese candlestick chart of EXPD, below, I see a mixed picture. Prices are trading above the rising 40-week moving average line. The trading volume is more active in recent months suggesting increased interest from investors.
The weekly OBV line is off its best level. The MACD oscillator is above the zero line but has narrowed recently.
In this daily Point and Figure chart of EXPD, below, I can see an upside price target in the $141 area. A trade at $120 should refresh the uptrend.
In this weekly Point and Figure chart of EXPD, below, I can see a price target in the $147 area.
Bottom line strategy: Traders could go long EXPD at current levels and get more aggressive on strength above $120. Risk to $105 for now. The $141-$147 area is my price target for now.
