Trade Ideas: KEX
Some downside to the day, but markets closed much as they did yesterday. The Trade Ideas scan was similar in its rate of stock ideas with 8 picks covering a time span of 6 minutes. Only one pick made it to the 20 appearance mark: Kirby Corp. (KEX).
The stock trades inside a rising channel, but is wedged between $36 support and $37 resistance. A break of resistance should see a challenge of the next level of resistance at $40.35. Stops can go on a break of channel support around $36. There was a "Golden Cross" between the 50-day and 200-day MAs late November. The projected target from the current base is up around $50 which closely approximates the point-n-figure target of $48.
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Trade Ideas
The stock trades inside a rising channel, but is wedged between $36 support and $37 resistance. A break of resistance should see a challenge of the next level of resistance at $40.35. Stops can go on a break of channel support around $36. There was a "Golden Cross" between the 50-day and 200-day MAs late November. The projected target from the current base is up around $50 which closely approximates the point-n-figure target of $48.
Kirby Corporation, through its subsidiaries, provides marine transportation and diesel engine services in the United States. The company operates in two segments, Marine Transportation and Diesel Engine Services. The Marine Transportation segment engages in the inland transportation of petrochemicals, black oil products, refined petroleum products, and agricultural chemicals by tank barges, as well as the offshore transportation of dry-bulk cargoes by barge. As of March 6, 2006, its fleet comprised 897 inland tank barges, 239 inland towboats, 4 offshore dry-cargo barges, 4 offshore tugboats, and 1 shifting tugboat. The company offers its marine transportation services to inland and offshore barge operators, oil service companies, petrochemical companies, offshore fishing companies, other marine transportation entities, and the United States Coast Guard and Navy. The Diesel Engine Services segment provides aftermarket service for vessels powered by large medium-speed and high-speed diesel engines utilized in the various inland and offshore marine industries in the marine market; provides aftermarket service for diesel engines that provide standby, peak, and base load power generation, for users of industrial reduction gears and for stand-by generation components of the nuclear industry in the power generation market; and provides aftermarket service and parts for shortline, industrial, Class II, and certain transit railroads in the railroad market.
If you would like to try a full version of the Trade-Ideas software, follow this link for a free 7-day trial.
Trade Ideas
