TAOST Stalk Idea – As of Close 13 October 2017

KNX – Knight-Swift Transportation Holdings

 

Company Profile [via Yahoo Finance]

Knight-Swift Transportation Holdings Inc., together with its subsidiaries, provides truckload transportation and logistics services in North America. The company’s suite of services includes irregular route, dedicated, expedited, port drayage, and cross-border services in the United State/Mexico/Canada through dry van, refrigerated, flatbed and specialized trailers, and intermodal containers. It also provides rail intermodal and non-asset based freight brokerage, and logistics management services; and sells various used trucks and trailers, as well as offers a range of financing options. The company operates a fleet of approximately 23,000 tractors and 77,000 trailers. Knight-Swift Transportation Holdings Inc. was founded in 1989 and is headquartered in Phoenix, Arizona.

 

Stats As Of Close Friday 13 October 2017

KNX Stats

 

Monthly Chart

The monthly chart shows a clear line of support around the $34.85 level.  The rising trendline that crosses support around that same level is more evidence that support is lurking in this area.

KNX Monthly Chart

 

Weekly Chart

The weekly chart shows additional minor support levels above $34.85, but I tend to prefer stronger levels like what we see at $34.85.

KNX Weekly Chart

 

Daily Chart

The daily chart is perhaps the best evidence of the trade that’s setting up.  Look for entries (trade signals) between $34.50 and $36.  As always, be sure to keep your risk tight.

KNX Daily Chart

 

Brokerage Recommendations

Not a big fan of fundamentals, but for what it’s worth.

KNX Brokerage Recommendations

 

Short Interest Profile

The short interest profile is net bullish… Because almost 30% of the shares outstanding are held short, the stock could easily skyrocket if it gets started back to the upside.  Why you ask?  In order to close their positions, shorts have to buy the shares back.  At the average turnover rate of 2.3 million shares per day it would take shorts almost 9 days to cover their positions… If they bought every share that traded all day each day.  Since that’s incredibly unlikely to happen, that means the stock would have buy support for even longer and more aggressively.

KNX Short Interest Profile

The Trader Says:

KNX is in a strong uptrend.  The stock is currently experiencing a pullback which is either the early stages of a reversal or a garden variety pullback before the stock goes on to new all time highs.  As always, limit your risk and you can feel free to give this stock a go.

Hope it helps.

KIS,

The Trader