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Transports Shift Into Fast Lane

JB Hunt Transport Services (JBHT) ($59.20 vs. 53.12 on Aug. 28): Should have problems trading above its multi-year high at $61.18 set on June 19 with the 50-day and 200-day SMAs as supports at $58.51 and $55.89. The weekly chart has a negative divergence in momentum with the five-week MMA at $58.12. The stock remains buy rated, is 5.1% overvalued and has an elevated 12 month trailing P/E at 23.1. My semiannual value level is $49.82 with a monthly pivot at $58.77 and quarterly risky level at $61.42.

Norfolk Southern (NSC) ($62.55 vs. $73.37 on Aug. 28): Has lagged the sector setting a multi-year low at $56.05 on Nov. 16. The stock is now above its 50-day SMA at $61.52 but well below its 200-day SMA at $67.76. The weekly chart profile shifted to positive last week with the five-week MMA at $61.69 and the 200-week SMA at $59.86. The stock remains buy rated, is 9.3% undervalued and has a 12 month trailing P/E at 11.7. My semiannual value level is $58.29 with monthly risky level at $68.05.

Old Dominion Freight Line (ODFL) ($34.28): Traded to a multi-year high at $35.13 on Nov. 6. The stock is above its 50-day and 200-day SMAs at $32.73 and $30.57. The weekly chart profile shifted to positive last week with the five-week MMA at $33.02 and the 200-week SMA at $20.95. The stock has a buy rating, is 0.3% overvalued and has a slightly elevated 12 month trailing P/E at 17.2. My monthly value level is $29.61 with a weekly pivot at $35.06 and quarterly risky level at $35.68.

United Parcel Service (UPS) ($74.84 vs. 75.26 on Aug. 28): Set its 2012 low at $69.56 on Nov. 15 and the Dec. 19 high was a failed test of the 200-day SMA at $75.67. The 50-day SMA is a support at $72.86. The weekly chart profile has been positive with the five-week MMA at $73.10 and the 200-week SMA at $66.46. The stock has a buy rating down from strong buy on Aug. 28. The stock is 8.7% undervalued and has a slightly elevated 12 month trailing P/E At 16.4. My weekly value level is $72.75 with an annual risky level at $78.96.

At the time of publication the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Richard Suttmeier has an engineering degree from Georgia Tech and a master of science from Brooklyn Poly. He began his career in the financial services industry in 1972 trading U.S. Treasury securities in the primary dealer community. In 1981 he formed the Government Bond Department at LF Rothschild and helped establish that firm as a primary dealer in 1986. Richard began writing market research in 1984 and held positions as market strategist at firms such as Smith Barney, William R Hough, Joseph Stevens, and Rightside Advisors. He joined www.ValuEngine.com in 2008 producing newsletters covering the U.S. capital markets, and a universe of more than 7,000 stocks. Richard employs a "buy and trade" investment strategy and can be reached at RSuttmeier@Gmail.com.
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