I trading this the other day in an out for a 2-3 day scalp. Trucking has been a fairly robust relative strength industry lately. Yesterday YRCW closed right on the 200, Today it opened on the 200, fell down to the 50 on the nose, then finished near the high until the closing power hour when everyone liquidated. This is a perfect cup and handle on the daily.. Its up 225% since the christmas eve low, and still seems to have good volume and headed for a 3rd touch of 8.40ish.
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If it clears the 8.65, it's got 8.85ish and then 9.60.
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It's a cup and handle from October until now, another cup and handle from Feb 25 until now, and had a double bottom formation on March 8 and March 21 at 6.50ish.
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Other stocks in the Trucking industry that are setting up include BEST, SNDR, ODFL, KNX
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