U.S. Markets open in 9 hrs 18 mins

Ryder System Could Bounce From Here, Risk Is Well Defined

Bruce Kamich

In this daily bar chart of R, below, we can see that prices made a low in late December followed by a rebound to the underside of the declining 200-day moving average line. The volume pattern is inconclusive but the daily On-Balance-Volume (OBV) shows a rise from December to the end of April followed by a decline that has not broken the March low for a possible bullish divergence. The Moving Average Convergence Divergence (MACD) oscillator is poised to cross to the upside for a cover shorts buy signal.