Knight-Swift Transportation Holdings (KNX) is geared up to report its first-quarter figures after the close of trading here on Thursday. Let's check out the charts and indicators of the trucking and logistics services company to see what might be down the road for its stock.
In this daily bar chart of KNX, below, I can see that prices have rallied from their low way back in May. A pattern of higher lows and higher highs have played out the past 12 months. KNX trades above the rising 200-day moving average line but slightly below the declining 50-day line. The On-Balance-Volume (OBV) line shows a rise to early February and then a decline, telling me that traders have become more aggressive sellers. The Moving Average Convergence Divergence (MACD) oscillator is just slightly below the zero line.
In this weekly Japanese candlestick chart of KNX, below, I can see that KNX has traveled higher the past three years and it fared better than many stocks in 2022. KNX trades above the rising 40-week moving average line. The weekly OBV line has moved higher since the fourth quarter of 2020 and confirms the price gains over that time. The MACD oscillator is above the zero line but narrowing toward a fresh buy signal.
In this daily Point and Figure chart of KNX, below, I can see the software is projecting a potential upside price target in the $63 area.
In this weekly Point and Figure chart of KNX, below, I can see a possible downside price target in the $52-$51 area. A trade at $58.06 should strengthen the picture.
Bottom line strategy: I don't know what KNX will tell shareholders and fundamental analysts this evening, but the stock charts are mostly bullish.
