Transportation 2023-12-20: UNCHANGED at STRONG strength rating (4th strongest of 9 levels), previous move was UP
Transportation update? Shipping +2 strength levels, Railroads=Very Strong, 1 week 83% positive stocks, ZIM +33%, 30% of stocks=Strongest.
Full details at downloadable file linked below.
What are you seeing here and why do you care? Partial listing:
🔹 An objective measurement of industry strengthening and weakening so you can objectively compare strength and weakness across/within industries and sub-industries.
🔹 A listing of stocks rated Strongest and Weakest (highest/lowest strength of 9 levels) by sub-industry, saving you significant time finding stocks that may be prone to making bigger moves faster. Stronger stocks have less overhead resistance, Weaker stocks are prone to “pops” from bargain hunting and short-covering yet due to preceding weakness are also prone to falling far and fast.
Background
Largest of 7 sub-industries (83 stocks, average 12):
- Shipping (34 stocks)
- Trucking (15 stocks)
- Air Delivery & Freight Service (11 stocks)
- Regional Airlines (9 stocks)
Top 10 Market Cap stocks: UNP/Union Pacific Corp, UPS/United Parcel Service Inc, CNI/Canadian Natl Railway, CP/Canadian Pacific Railway Ltd, FDX/Fedex Corp, CSX/Csx Corp, NSC/Norfolk Southern Corp, ODFL/Old Dominion Freight Lines Inc, DAL/Delta Air Lines Inc, WAB/Wabtec Corporation.
Details
🔹 30% Strongest Stocks, 6% Weakest Stocks.
🔹 STRENGTHENING 1 Week vs. Mid- and Longer-Term // 1 week positive/negative stocks ratio is HIGHER than both 4 weeks and 3 Months (83%/80%/77% positive)
🔹 Sub-industry Overview:
STRONGEST at Very Strong rating/2nd strongest of 9 levels:
- Railroads (8 stocks)
WEAKEST at Average rating/5th strongest of 9 levels:
- Air Delivery & Freight Service (11 stocks)
- Major Airlines (4 stocks)
- Trucking (15 stocks)
🔹 Lookback Periods Comparison:
3 Months: 17% stocks >+20% and 1% stocks <-20%.
___UP most:
HA +88% (Reg'l Airlines)
LPG +58% (Shipping)
PANL +39% (Shipping)
EGLE +37% (Shipping)
TNK +31% (Shipping)
___DOWN most:
ATSG -21% (AirDelv/Frt)
ZTO -18% (AirDelv/Frt)
DSX -12% (Shipping)
EH -11% (Air Services)
HTLD -11% (Trucking)
4 weeks: 25% stocks >+10% and 2% stocks <-10%.
___UP most:
HA +183% (Reg'l Airlines)
ZIM +45% (Shipping)
JBLU +33% (Reg'l Airlines)
VLRS +33% (Reg'l Airlines)
EGLE +26% (Shipping)
___DOWN most:
DSX -14% (Shipping)
ZTO -10% (AirDelv/Frt)
AZUL -9% (Reg'l Airlines)
TRMD -5% (Shipping)
ARCB -4% (Trucking)
1 Week: 16% stocks >+10% and 1% stocks <-10%.
___UP most:
ZIM +33% (Shipping)
TNP +17% (Shipping)
TDW +16% (Shipping)
ESEA +14% (Shipping)
SMHI +13% (Shipping)
___DOWN most:
FDX -10% (AirDelv/Frt)
EH -9% (Air Services)
TRN -6% (Railroads)
AZUL -6% (Reg'l Airlines)
ZTO -2% (AirDelv/Frt)