Value Level: Price at which to enter a GTC limit order to buy on weakness. The letters mean; W-weekly, M-monthly, Q-quarterly, S-semiannual and A-annual.
Pivot: A level between a value level and risky level that should be a magnet during the time frame noted.
Risky Level: Price at which to enter a GTC limit order to sell on strength.
Con-Way (CNW) ($42.99 vs. $43.80 on Aug. 13) set a multi-year high at $46.52 on Aug. 2 and is on the cusp of its 50-day SMA at 43.06. My weekly value level is $42.40 with a monthly risky level at $46.48.CSX (CSX) ($25.36 vs. $25.32 on Aug. 13) traded to a new multi-year high at $26.90 on Sept. 19 and today the stock is below its 50-day SMA at $25.55. The 200-day SMA is $23.98 with a weekly pivot at $25.42 and quarterly risky level at $26.93. FedEx (FDX) ($113.69 vs. $108.61 on Aug. 13) traded to a new multi-year high at $118.31 on Sept. 20. My semiannual value level is $105.29 with an annual pivot at $113.72 and semiannual risky level at $123.36. JB Hunt (JBHT) ($72.16 vs. $75.47 on Aug. 13) set its multi-year high at $78.39 on Aug. 1 and is now below its 50-day SMA at $74.02 and is just above its 200-day SMA at $71.14. My weekly value level is $70.96 with a semiannual pivot at $72.05 and monthly risky level at $78.04. Norfolk Southern (NSC) ($76.82 vs. $74.29 on Aug. 13) set its multi-year high at $81.00 back on May 21 and stayed above its 200-day SMA on June 24 and Aug. 30 with the 200-day now at $73.74. My annual value level is $75.90 with a quarterly pivot at $77.40 and quarterly risky level at $81.28. Old Dominion Freight (ODFL) ($46.78 vs. $45.65 on Aug. 13) set a new multi-year high at $47.66 on Sept. 24. My weekly value level is $45.94 with a monthly pivot at $46.37 and quarterly risky level at $52.66. (UNP) ($152.73 vs. $160.19 on Aug. 13) set its multi-year high at $165.18 on July 22. The stock is now between its 200-day SMA at $147.61 and its 50-day SMA at $157.34. My semiannual value level is $149.48 with a weekly pivot at $152.02 and semiannual risky level at $167.94.
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