Trucking and logistics firm J.B. Hunt Transport Services ( JBHT) is scheduled to report their latest quarterly figures to shareholders after the close of trading Tuesday. Let's check the charts and indicators for any clues about the future direction of JBHT.
In this daily bar chart of JBHT, below, I can see that prices have been trucking sideways the past 12 months. Prices are trading only slightly above the 50-day and 200-day moving average lines and their slopes are only slightly positive.
The On-Balance-Volume (OBV) line has been downshifting since early February and tells me that sellers of JBHT have been more aggressive than buyers. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line but poised for a downside crossover.
In this weekly Japanese candlestick chart of JBHT, below, I can see a mixed chart. Prices are just slightly above the 40-week moving average line. Prices have been in a sideways move since the middle of last year. The weekly OBV line has improved slightly from a May low. The MACD oscillator is trying to decide which way to go as it stalls at the zero line. Recent candles suggest some caution.
In this daily Point and Figure chart of JBHT, below, I can see an upside price target of $217, but I also see potential resistance in the $194-$198 area.
In this weekly Point and Figure chart of JBHT, below, I can see a potential price target in the $233 area.
Bottom line strategy: I have no special knowledge of what JBHT will tell shareholders this evening. The charts and indicators are mixed. I would recommend a position in park or neutral ahead of earnings.
