Freight transportation company XPO Logistics (XPO) is scheduled to report their latest quarterly numbers to shareholders and fundamental analysts this Monday, although the company did announce preliminary third-quarter numbers a week and a half ago. Regardless, market watchers are keen to watch the developments in supply-chain transportation companies such as XPO, FedEx (FDX) and United Parcel Service (UPS) to see what they mean for the broader economy.
With that said, let's check out the charts and indicators of XPO before the actual print.
In the daily bar chart of XPO, below, we can see some improvement in the direction of prices. XPO was in a downward trend into June and then the shares turned more sideways. A temporary new low was made in September but otherwise prices have managed to hold around the $45 level since May. The price action is positive but the volume pattern is not yet constructive.
The daily On-Balance-Volume (OBV) line declined the past 12 months and has yet to shift to a pattern showing more aggressive buying. The Moving Average Convergence Divergence (MACD) oscillator is below the zero line but close to a potential crossover and buy signal.