The Greedy Trader Weekly Analysis
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Weekly Pattern:Rising Channel
Number of records: 8
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Channeling Stock - rising channel and falling channel.

Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.
Trading technique:
# 1
Buy channeling stock on support and sell on resistance.
# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.
Tips:
# 1 For the best results, stock channeling should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.

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- 5/31/2024 -
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J. B. Hunt (JBHT) Technical Analysis

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Summary:
Weekly :Oversold industryRelative Strength Index and Lane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldStochastic has raised above the signal lineBroken trend support line
Daily :Williams' Percentage Range is oversoldStochastic signal line moved above oversold areaDaily  MACD line has moved above its signal line
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It was a first positive week for the J. B. Hunt (JBHT). During the week, the JBHT gained 3.13 points, or 1.99%, and closed at 160.75 on Friday, May 31, 2024. Weekly volume was 7% above average.

JBHT is a member of Trucking Industry. Trucking is the most oversold industry. 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 trend support level is at 95.65 and resistance is at 182.15. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern 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 Broadening Ascending Wedge chart pattern. The uptrend support line (169.12) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. JBHT may retest the broken support line. It is considered to be a resistance line now. 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 support in a medium-term trend.

Weekly Technical Indicators: [See JBHT weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index and Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is below its signal line since March 15, 2024. The distance between MACD and the signal line is near its high, but getting smaller. Use the following link to access a MACD help.

Short-term trend: [See JBHT short-term trend chart]
A short-term uptrend had started on May 29, 2024 at 154.10 and reached 160.86 on May 31, 2024. JBHT gained -6.76 points, or -4.39%, in 2 days. Price is near the trend high.

Daily Technical Indicators: [See JBHT daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.03
Williams' Percentage Range (W%R) 80.20
Oversold
Lane's Stochastic (%D-Slow) 22.79
Greed/Fear Indicator (GFI) 24.87
Moving Average Converg./Diverg. (MACD) -4.67
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 17.47
Oversold
Williams' Percentage Range (W%R) 94.50
Strong Oversold
Lane's Stochastic (%D-Slow) 11.55
Oversold
Greed/Fear Indicator (GFI) 17.12
Oversold
Moving Average Converg./Diverg. (MACD) -2.98
Trading Signals
Description Value Chart
Yearly Trendline Resistance 182.15
50 Day Moving Average 174.50
Upper Bollinger Band 173.50
Quarterly Trendline Support 169.12
20 Day Moving Average 163.78
Parabolic System 162.64
Price 160.75
Weekly Stochastic Crossing 159.79
Daily Stochastic Crossing 156.45
Lower Bollinger Band 153.04
Sector and Industry
Description Name Rank
Sector Industrials 7
Industry Trucking 1
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 154.10
Low Date 05/29/2024
High 160.86
High Date 05/31/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 172.30
High Date 05/13/2024
Low 154.10
Low Date 05/29/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 219.51
High Date 02/15/2024
Low 154.10
Low Date 05/29/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 224.62
Support 169.12
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 Valid
Resistance 182.15
Support 95.65
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.