Cargojet is Experiencing Bullish Price Action: Technically Speaking by Dwight Galusha

Cargojet Inc. (TSX:CJT) recently retested the triangle breakout in the form of a bull flag continuation pattern

Dwight Galusha | August 24, 2021 | SmallCapPower: Cargojet Inc. (TSX:CJT) is pushing above horizontal resistance after retesting the triangle breakout in the form of a bull flag continuation pattern. This price action is bullish and suggests a continuation of the uptrend.

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Cargojet is Canada’s leading provider of time-sensitive overnight air cargo services and carries over 1.3 million pounds of cargo each business night. CJT’s air cargo business activities include the operation of domestic overnight air cargo co-load network between 14 cities in Canada, as well as provisions of dedicated aircraft to customers. CJT also operates scheduled international routes for various cargo customers between the U.S. and Bermuda, between Canada and Germany, and between Canada, Columbia, and Peru.

On August 11, Cargojet announced a 25% strategic investment in U.S.-based cargo airliner 21Air LLC, which provides Charter, ACMI, and CMI services to major air cargo consolidators, freight forwarders, couriers, and global integrators.

Dwight Galusha is a Chartered Market Technician (CMT) whose work can be found at www.SetYourStop.com

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