Stocks This Week: Buy Carmax And Short J.B. Hunt Transportation


Photocredit: © 2019 Bloomberg Finance LP

© 2019 Bloomberg Finance LP

This is options expiration week in the month of June. This week has a seasonally bearish bias, so we are likely to see some pullback but the uptrend remains intact. Here are short-term trading selections for the near-term.

Carmax has a weekly cycle low in the coming days. Eight of nine buy signals have led to rising prices in the last year. The stock has been strong, at a new high and with rising relative strength. The shares are due to rise closer to $90 into the third week in July.

Chart 1

This cycle bottoms now.

Cycles Research Investments LLC

Chart 2

This strong stock is likely to rise further.

Cycles Research Investments LLC

The weekly price cycle for J.B. Hunt peaks on the 25th. Six of the last eight sell signals have been profitable. The stock has been weak. Price and relative strength have been trending down. The daily price momentum indicator is overbought and topping. The shares are likely to fall to $85 or lower by mid-July.

Chart 3

The stock cycle points to lower prices.

Cycles Research Investments LLC

Chart 4

This weak stock is due to move lower.

Cycles Research Investments LLC

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