The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Wedge
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Chart Analysis and Chart Pattern Recognition – Falling Wedge Pattern.

A falling wedge pattern is a triangle formation with noticeable slant to the downside. It represents the loss of the downside momentum on each successive low and has a bullish bias. The falling wedges pattern usually marks a reversal in a downtrend. In an uptrend, the falling wedge pattern is considered as a continuation pattern. As with other triangle formations, volume usually diminishes as price rise and then increases during the breakout.
Falling Wedge Screening page presents a list of stocks forming Falling Wedge Pattern.
Tips:
# 1
To confirm the loss of the downside momentum at the reversal point, see bullish divergence on technical indicators.
# 2 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.

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- 3/15/2024 -
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J. B. Hunt (JBHT) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend resistance line
Daily :Relative Strength Index and Williams' Percentage Range are oversold
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It was the negative week for the J. B. Hunt (JBHT). During the week, the JBHT dropped -6.68 points, or -3.33%, and closed at 193.92 on Friday, March 15, 2024. Weekly volume was -25% below average.

JBHT is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See JBHT long-term trend chart]
A long-term uptrend had started on August 24, 2005 at 17.38 and reached 219.51 on February 15, 2024. JBHT gained -202.13 points, or -1163.00%, in 964 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (94.71) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See JBHT medium-term trend chart]
A medium-term uptrend had started on June 17, 2022 at 153.92 and reached 219.51 on February 15, 2024. JBHT gained -65.59 points, or -42.61%, in 86 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 167.75 and resistance is at 211.17. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See JBHT weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See JBHT short-term trend chart]
A short-term downtrend had started on February 15, 2024 at 219.51 and reached 193.23 on March 15, 2024. JBHT lost 26.28 points, or 11.97%, in 29 days. Price is near the trend low.

Daily Technical Indicators: [See JBHT daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index and Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Relative Strength Index and Williams' Percentage Range help.

The daily MACD line is below its signal line since February 16, 2024. This is an indication that the short-term trend is down.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 19.48
Oversold
Williams' Percentage Range (W%R) 87.30
Oversold
Lane's Stochastic (%D-Slow) 33.19
Greed/Fear Indicator (GFI) 21.79
Moving Average Converg./Diverg. (MACD) -1.14
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.69
Williams' Percentage Range (W%R) 41.90
Lane's Stochastic (%D-Slow) 59.09
Greed/Fear Indicator (GFI) 55.20
Moving Average Converg./Diverg. (MACD) 5.12
Trading Signals
Description Value Chart
Monthly Trendline Resistance 225.30
Upper Bollinger Band 212.20
Monthly Trendline Support 211.70
Quarterly Trendline Resistance 211.17
Parabolic System 207.12
Weekly Stochastic Crossing 206.24
20 Day Moving Average 203.43
50 Day Moving Average 203.37
Daily Stochastic Crossing 196.97
Price 193.92
Lower Bollinger Band 193.14
Yearly Trendline Resistance 180.23
Quarterly Trendline Support 167.75
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Trucking 53
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 214.33
High Date 02/23/2024
Low 193.23
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 219.51
High Date 02/15/2024
Low 193.23
Low Date 03/15/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 225.30
Support 211.70
Low 164.53
Low Date 10/27/2023
High 219.51
High Date 02/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 211.17
Support 167.75
Low 153.92
Low Date 06/17/2022
High 219.51
High Date 02/15/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 180.23
Support 94.71
Low 17.38
Low Date 08/24/2005
High 219.51
High Date 02/15/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.