Shares of Knight-Swift Transportation Holdings Inc. (KNX) , a huge trucking company, are trading lower after an earnings miss and guidance cut on Wednesday evening.
Before getting in the cab let's check out the charts.
In the daily bar chart of KNX, below, we can see that the shares were already retreating before Thursday. KNX had given back much of the June-August rally. Prices have been failing at the underside of the 50-day and 200-day moving average lines in recent weeks.
The daily On-Balance-Volume (OBV) line has been soft since the middle of August suggesting that traders are selling more than they are buying. The Moving Average Convergence Divergence (MACD) oscillator has been bearish since early September.