Truck maker Paccar (PCAR) was raised to a "buy" recommendation by Jefferies Monday. The sell-side firm gave it a $115 price target.
Let's check and see what the charts and indicators are doing.
In my May 18 review of PCAR I wrote that "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."
In the daily bar chart of PCAR, below, I can see that the shares have rallied strongly from late May. Prices are trading above the rising 50-day moving average line and above the rising 200-day line.
The On-Balance-Volume (OBV) line has been on a steady upward path the past year and tells me that buyers of PCAR have been more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line.