JBHT faces near-term pressure from high diesel costs but technicals suggest a rebound from ~$221.52 support toward ~$258.

Uh next up into JBHT, I know Gareth might have covered this earlier, but I wanted to highlight this because our PPI uh data reports that came out last week came in hot. They came in hot on diesel, guys.

And when you come in hot on diesel, uh, transportation companies are going to be under pressure. But as soon as we have any sort of alleviation in the Middle East, these stocks are about to pop.

All right, so where are they going to go now? In JBH, look at this. When I pull up the Fibonacci sequence retrace, all right, we've got this from the low over here to the high.

And notice what happens here. we get a little pocket of support in between the 382 and the 50% retrace with this inclining trend line being a spot that I likely think should uh halt price selling on this sharp move down with that level is at $221.52.

Look here on the daily time frame stretching down to 3103 on the RSI and also look at this last little piece of technical analysis highlighting this break when I connect pivot to pivot to pivot.

Look at the shelf that JBHT was on before dropping today. So, that is a huge collapse. One of which I don't think will get back up this high to retest that trend line. But this currently is in that sort of mode.

It needs to come down, find support. Then the bounce will likely take us right back up to this 236 level around $258.