Home
News
- 1 JBHT stock managed the gains and stayed on the top.
- 2 Investors are showing demand and accumulated price in the last session.
J.B Hunt Transport Service (NASDAQ: JBHT) stock soared more than 3% due to the Q2 number effects. Although the numbers were not as per the estimates, the market took it positively and showed consecutive gains in the past sessions. Moreover, the price is near the strong resistance of $200, which investors are willing to catch.
The net income fell by 25.77%, revenues by 4.85% (QoQ), and 18.37% (YoY). Furthermore, the EPS fell by 4.90%. Overall, the Q2 numbers noted a decline in all aspects, but showing inclination on the charts was like a miracle for the buyers who made long positions in the stock.
JBHT stock noted a rounding bottom pattern and formed a hanging man candlestick in the last session, indicating a volatile move for further sessions. However, the stock is trading near the resistance of $200, where sellers made a grip over there.
J.B. Hunt Transport Services, Inc. engages in the provision of logistics solutions. It operates through the following segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT).
The JBI segment offers intermodal freight operations for rail carriers. The DCS segment includes private fleet conversion and final-mile delivery services. The ICS segment provides single-source logistics management for clients who intend to outsource their transportation activities. It offers flatbed, refrigerated, expedited, less-than-truckload, dry-van, and intermodal freight services.
At press time, JBHT stock traded at $195.23 with an intraday gain of 3.75% showing bullishness on the charts. Moreover, the intraday trading volume increased by 5% to 2.238 Million, and the market cap is $20.235 Billion.
Daily Charts Shows Massive Buying Traction
On the daily charts, JBHT stock stayed above in the bullish territory and above the key moving averages. Furthermore, as per the technicals, analysts maintained a strong buy rating and outperform rating.
As per the Fib levels, JBHT stock traded above 61.8% and near 78.6%, showing buyers’ strength on the charts.
Moreover, the price is near the upper bollinger band and suggests an upright action for the following sessions. If JBHT stock escapes $200, the trend will rise further, and the price will head toward $210, followed by $220.
The RSI curve showed a positive divergence and stayed above the overbought zone near 75, indicating buyers’ domination on the charts.
The MACD indicator showed a bullish crossover and persisted to form green bars on the histogram, indicating a strong growth outlook for the near term.
Conclusion
JBHT stock persists in rising and trading in the bullish territory, suggesting further bullishness for the following sessions.
Technical Levels:
Support Levels: $185
Resistance Levels:$200 and $210
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
