Transportation 2023-09-13: -1 to "WEAK" strength rating (6th strongest of 9 levels), previous move was also DOWN

Brian Degracia

13 Sep 2023 • 2 min read

Transportation for the trading week ending 2023-09-13, 4 of 7 sub-industries weakened as the industry weakened 1 level.

SUMMARY

Performance

Bottom line: WEAKENED 3 levels over the past 5 weeks
Context: WEAKER recently vs. YTD
- 61% positive stocks YTD
- 24% positive stocks past 4 weeks

Background

Largest of 7 Sub-industries: Shipping, Trucking, Air Delivery & Freight Service
10 Biggest Market Cap stocks: UPS, UNP, CNI, CP, FDX, CSX, ODFL, NSC, DAL, WAB

DETAIL: 1 week review, YTD/4 weeks lookbacks

1 Week Review

Strengthened: 0/7 sub-industries
Weakened: 4/7 sub-industries

Strongest at Strong/4th strongest (of 9 levels) rating: Air Services
Weakest at Weaker/7th strongest rating: Major Airlines, Railroads, Regional Airlines

10-Week Week-by-Week Industry/Sub-industry Strength Comparison
What: recent week-by-week strength changes for the industry and each underlying sub-industry
Why: objective measurement of strengthening and weakening enabling comparison within and across industries and sub-industries

The Major and Regional Airlines have been having issues lately. Due to oil price increases?

Strongest and Weakest Stocks
What: stocks currently rated Strongest/Weakest (highest/lowest of 9 strength ratings)
Why: most interesting stocks for available capital because
- the Strongest may be meme-stock mania candidates prone to breakouts, and
- the Weakest may be prone to large bottom-fishing/short-covering-driven pops... and may also be primed for bigger and faster falls. (Not guaranteed and not a recommendation - weak stocks in weakening sub-industries may be better shorts than high-flyers.)