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Michael Kahn's  Instablog

Michael Kahn
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Michael, a chartered market technician (CMT), edits the daily markets newsletter Quick Takes Pro (http://quicktakespro.blogspot.com/). He is also a columnist for Barron's Online, writing the twice-weekly "Getting Technical" column covering the stock market, sectors and occasional bond,... More
My company:
Michael Kahn Research LLC
My blog:
Behind the Headlines
My book:
Technical Analysis: Plain and Simple
  • Ryder just looks bearish 0 comments
    Aug 26, 2010 6:51 PM | about stocks: R

    I was just flipping through some charts, not looking for anything in particular, and saw trucking stock Ryder (R). Transports are basically net unchanged for the past two days and Ryder is consolidating just under a broken support line. It is below major averages, too.

    We can make a small argument for oversold conditions but Mikey' Rules say the longer something holds at support, the more likely it will break down below it.

    Disclosure: no positions
    Themes: transportation Stocks: R
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