JBHT ready to move higher?
* Great earnings year-over-year
* Very strong up trend
* High 3-month relative strength in the Industrial sector
* Was in a ~7 month consolidation
* Recent earnings caused a break away gap and a tight range for 3 weeks
* This created a base on base pattern
* Breaking out of a very tight 3 week consolidation of 2.49% with higher than average volume
Trade Idea:
* Now's the perfect time to enter as the price is very close to the broken level.
* However, looking at the weekly chart, this may consolidate for a couple of days before continuing to move higher.
* Very strong up trend
* High 3-month relative strength in the Industrial sector
* Was in a ~7 month consolidation
* Recent earnings caused a break away gap and a tight range for 3 weeks
* This created a base on base pattern
* Breaking out of a very tight 3 week consolidation of 2.49% with higher than average volume
Trade Idea:
* Now's the perfect time to enter as the price is very close to the broken level.
* However, looking at the weekly chart, this may consolidate for a couple of days before continuing to move higher.
Entry: $201.46
Stop: $191.46
Target: $226.46