• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing

Paccar Downshifts on the Charts

Let's check on this truck maker after its downgrade.
By BRUCE KAMICH
Apr 05, 2022 | 12:43 PM EDT
Stocks quotes in this article: JEF, PCAR

Jefferies ( JEF)  downgraded the shares of truck maker Paccar ( PCAR) Tuesday from "Buy" to "Hold." Let's check out the charts and indicators. 
 
In this daily bar chart of PCAR, below, we can see that prices have been in a $82 to $98 trading range the past five months, but now prices look like they will break down to a new low below $82. PCAR is trading below both the declining 50-day moving average line and the bearish 200-day line. The On-Balance-Volume (OBV) line has moved sideways since August. The trend-following Moving Average Convergence Divergence (MACD) oscillator is bearish. 
 
 
In this weekly Japanese candlestick chart of PCAR, below, we can see an important "neckline" across $80. Prices have bounced off $80 a number of times but this may not be the case now. PCAR is below the declining 40-week moving average line. The weekly OBV line shows a decline from early 2021. The MACD oscillator crossed to the downside in February and is now close to crossing below the zero-line. 
 
 
 
In this daily Point and Figure chart of PCAR, below, we can see that prices made a new low for the move down on this chart. A price target of $73 is shown. 
 
 
In this weekly Point and Figure chart of PCAR, below, we can see a potential downside price target in the $70 area. 
 
 
Bottom line strategy: The charts and indicators of PCAR look weak. Prices are likely to head lower. Traders should avoid the long side.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Technical Analysis | Automotive | Transportation | Analyst Actions

More from Investing

Stay Guarded Amid Rally's Rotation

James "Rev Shark" DePorre
May 23, 2022 4:41 PM EDT

Stocks spin, and that makes the market picture rather murky.

Dare I Recommend a Retail Name Like American Eagle Outfitters?

Bruce Kamich
May 23, 2022 3:15 PM EDT

Let's check out the charts.

Look for General Motors Shares to Restart Their Uptrend

Bruce Kamich
May 23, 2022 2:10 PM EDT

Why aggressive traders could get behind the GM wheel again.

Alibaba Is Sold out on the Downside

Bruce Kamich
May 23, 2022 1:26 PM EDT

China at a bearish extreme is an opportunity.

It 'Bears' Repeating: Tune Out the Noise!

Bob Lang
May 23, 2022 1:16 PM EDT

The noise around the markets is loud, distracting and sometimes obnoxious, but if you listen to it, you'll end up making poor decisions.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 02:24 PM EDT PAUL PRICE

    An Interesting Chart

    I'm betting heavily that stocks will be way up aga...
  • 10:10 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    "Market Timing for Dummies"
  • 01:44 PM EDT STEPHEN GUILFOYLE

    Stocks Under $10 Portfolio

    We're making a series of trades here.
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login