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Continue to Avoid Transportation Stocks

Con-Way (CNW - Get Report) ($39.81 vs. $34.33 on May 8) set a new 52-week high at $40.14 on June 14. The weekly chart profile stays positive with a close this week above its five-week modified moving average at $37.24. My monthly value level is $38.54 with a semiannual pivot at $39.30 and weekly risky level at $41.24.

CSX (CSX - Get Report) ($25.29 vs. $25.33 on May 8) set its 52-week high at $26.36 on May 21, the day after the peak in the Dow transportation average. The weekly chart shifts to negative on a close this week below the five-week MMA at $24.90. My quarterly value level is $18.48 with a monthly pivot at $24.71 and weekly risky level at $26.55.

FedEx (FDX - Get Report) ($99.48 vs. $99.52 on May 18) set its multi-year high at $109.66 on March 11 well before the transportation average peaked. The weekly chart stays positive on a close this week above the five-week MMA at $98.32. My quarterly value level is $84.75 with a semiannual risky level at $103.76.

JB Hunt Transport (JBHT - Get Report) ($72.70 vs. $73.04 on May 8) set its multi-year high at $77.20 on May 22, two days after the transportation average peaked. The weekly chart stays negative given a close this week below the five-week MMA at $72.67. My quarterly value level is $66.35 with a weekly risky level at $75.48.

Norfolk Southern (NSC - Get Report) ($77.03 vs. $78.41 on May 8) set its multi-year high at $81.00 on May 21, one day after the transportation average peaked. The weekly chart stays negative given a close this week below the five-week MMA at $76.83. My semiannual value level is $74.99 with an annual pivot at $75.90 and monthly risky level at $77.07.

Old Dominion Freight (ODFL - Get Report) ($43.15 vs. $40.15 on May 8) set its multi-year high at $44.00 On May 28, after the transports peaked. This high was re-tested on June 10. The weekly chart remains positive but overbought with the five-week MMA at $41.24. My quarterly value level is $37.20 with a monthly risky level at $44.83.

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SYM TRADE IT LAST %CHG
CNW $41.98 -0.71%
CSX $35.47 -0.22%
FDX $175.18 -0.78%
JBHT $85.24 -1.43%
NSC $95.53 -1.63%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

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