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Ryder just looks bearish

|Includes: Ryder System, Inc. (R)

I was just flipping through some charts, not looking for anything in particular, and saw trucking stock Ryder (NYSE: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