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JB Hunt (JBHT) Just Overtook the 200-Day Moving Average

·1 min read

JB Hunt (JBHT) 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.


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