Back to top
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
JB Hunt (JBHT) Just Overtook the 200-Day Moving Average
JB Hunt (JBHT - Free Report) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, JBHT broke through the 200-day moving average, which suggests a long-term bullish trend.
A useful tool for traders and analysts, the 200-day simple moving average helps determine long-term market trends for stocks, commodities, indexes, and other financial instruments. It moves higher or lower in conjunction with longer-term price performance, and serves as a support or resistance level.
JBHT has rallied 14% over the past four weeks, and the company is a Zacks Rank #2 (Buy) at the moment. This combination suggests JBHT could be on the verge of another move higher.
Once investors consider JBHT's positive earnings estimate revisions, the bullish case only solidifies. No estimate has gone lower in the past two months for the current fiscal year, compared to 7 higher, and the consensus estimate has increased as well.
Investors may want to watch JBHT for more gains in the near future given the company's key technical level and positive earnings estimate revisions.