Quick technical analysis on Rush Enterprises. This is a consumer cyclical trucking dealership. They are very dominant in this market space and currently in the process of acquiring 30 more locations. This is a good long-term portfolio addition. Because of the acquisitions coming in play, this could also lead to a quick short term profit as well for the swing...
NASDAQ:RUSHA is consolidating at ATHs forming a 1 month rectangle chart pattern. The $38.65 level been acting as resistance. A daily close about that level should propel the stock into higher prices and trigger a long swing trade entry.
If trucking (KNX) is hitting record revenue, and UPS is setting record revenues, and truck manufacturers (PCAR) are setting record revenues, then it only goes to follow that truck dealerships should be doing fairly well in revenue....
Rush sells Peterbilt, International, Hino, Ford, Isuzu, Mitsubishi Fuso, IC Bus, and Blue Bird. Taking a swing at earnings,...
Rusha went down with the market, it dropped 31% and since has been consolidating. Recently it tested the 38 dollar price level and it showed strength. my strategy is two wait 1,5 month for extra consolidation then get ready to buy potential breakout. Second scenario is an ABCD pattern to the downside which would land us in the 30$ area and then i would buy for a...
