The transports are a critical part of any rally, as it is a good gauge how many goods about being delivered around the country and world. Of course if you want to get even more simplistic or classic the sector is a key component in Dow Theory. The rails have been acting better as of late, the airlines not so much (unless you are located in the Latin American or South American region with the likes of CPA, LTM and GOL which have been moving upward). The trucking/logistics group is doing its part to lift the space and below we look at a couple different time frames on JBHT. Directly below is how we examined the name in our Wednesday 8/16. Keep in mind it has peers acting well to including ODFL, R and CHRW.

Stocks that can be bought as they pullback into bullish inverse head and shoulders breakouts are JBHTJBHT is a best in breed transport play UNCH YTD and higher by 18% over last one year period and sports a modest dividend yield of .9%. Earnings not moving needle much with gains of 1.8 and 1.6% on 7/17 and 1/19, an UNCH finish 4/17 and a loss of 2% on 10/17. The stock is higher 8 of the last 12 weeks and honing in on very round par number, which recorded just 2 weekly CLOSES above ending 2/10-17. The overall group is trying to push higher and it recently broke through a nice bullish inverse head and shoulders trigger of 94. Enter JBHT on a pullback at 96 and add to above 9 month weekly cup base trigger of 102.45.

Trigger JBHT 96.  Stop 92.55.

Looking at a current view of the stock it is now higher by 6% YTD and 26% over last one year period. It is higher 6 of the last 7 weeks and notice how candlesticks came into play with the lone down week last week was a bullish hammer candle that did CLOSE above very round par number (the bottom to the cup base was put in with a bullish harami cross week ending 5/26). That figure was resistance week ending 12/9/16 and did record two weekly finishes above ending 2/10-17 before descending. Monday JBHT hit a new, fresh all time high and broke above a cup base trigger of 102.48 in a pattern nearly 10 months long. Enter on a pullback at 102.

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The transports are a critical part of any rally, as it is a good gauge how many goods about being delivered around the country and world. Of course if you want to get even more simplistic or classic the sector is a key component in Dow Theory. The rails have been acting better as of late, the airlines not so much (unless you are located in the Latin American or South American region with the likes of CPA, LTM and GOL which have been moving upward). The trucking/logistics group is doing its part to lift the space and below we look at a couple different time frames on JBHT. Directly below is how we examined the name in our Wednesday 8/16. Keep in mind it has peers acting well to including ODFL, R and CHRW.

Stocks that can be bought as they pullback into bullish inverse head and shoulders breakouts are JBHTJBHT is a best in breed transport play UNCH YTD and higher by 18% over last one year period and sports a modest dividend yield of .9%. Earnings not moving needle much with gains of 1.8 and 1.6% on 7/17 and 1/19, an UNCH finish 4/17 and a loss of 2% on 10/17. The stock is higher 8 of the last 12 weeks and honing in on very round par number, which recorded just 2 weekly CLOSES above ending 2/10-17. The overall group is trying to push higher and it recently broke through a nice bullish inverse head and shoulders trigger of 94. Enter JBHT on a pullback at 96 and add to above 9 month weekly cup base trigger of 102.45.

Trigger JBHT 96.  Stop 92.55.

Looking at a current view of the stock it is now higher by 6% YTD and 26% over last one year period. It is higher 6 of the last 7 weeks and notice how candlesticks came into play with the lone down week last week was a bullish hammer candle that did CLOSE above very round par number (the bottom to the cup base was put in with a bullish harami cross week ending 5/26). That figure was resistance week ending 12/9/16 and did record two weekly finishes above ending 2/10-17 before descending. Monday JBHT hit a new, fresh all time high and broke above a cup base trigger of 102.48 in a pattern nearly 10 months long. Enter on a pullback at 102.

If you liked what you read why not take a 2 week FREE trial at www.chartsmarter.com.