Knight Transportation Inc. (KNS) breaches breakdown level
By Mark Moneymaster
October 26, 2009 11:35 AM
October 26, 2009 11:35 AM
Symbols: KNX
Knight Transportation Inc. (NYSE: KNX) has breached the decisive 200 days moving average of around $17 from upside, after coming below 20 days and 50 days moving average last week.
This downward reversal in Knight Transportation Inc. (KNX) starting from a level of $18.7 about a week back, suggests that the KNX stock may now have a real support for long term only around $16, the level around whicha strong accumulation in KNX stock was noticed in April.
The downward journey in Knight Transportation Inc. (KNX) comes inspite of the fact the truckload carrier's results came ahead of analysts' expectations, and KNX also managed to log higher volumes on the back of weaker prices.
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