Paccar Shares Jump 5.16% to $100.50 on Bullish Technical Rebound

Paccar (PCAR) shares surged 5.16% in the most recent session, closing at $100.50 after trading between $99.10 and $102.295 with notably elevated volume of 5.89 million shares. This bullish momentum reversed a three-day downtrend, suggesting renewed buying interest.
Candlestick Theory
The $95-$97 zone demonstrates clear support, halting declines on September 25 with a hammer-like pattern preceding the current bullish engulfing candle. Resistance near $102-$103 remains significant, as evidenced by repeated rejections in late July and September. The September 26 wide-ranged bullish candle closing above the prior three sessions’ highs signals robust buying pressure.
Moving Average Theory
The 50-day moving average (~$97.50) crossed above the 100-day and 200-day averages (~$95.20) in August, confirming a bullish alignment. The current price trading above all three key averages suggests sustained upward momentum. Recent consolidation respected the 50-day MA as support, reinforcing its role as a dynamic floor during pullbacks.
MACD & KDJ Indicators
MACD shows a bullish crossover emerging below the zero line, suggesting waning downward momentum. The KDJ oscillates near oversold territory (K: 25, D: 30, J: 15), aligning with the recent rebound. While not yet overbought, the rebound from deep oversold KDJ levels supports continuation potential. Divergence occurred last week as price made lower lows while KDJ stabilized—a precursor to the current rally.
Bollinger Bands
The bands contracted sharply during September’s consolidation, reflecting reduced volatility before the current expansion. Price has pushed into the upper band ($101.80), indicating near-term overextension. Historically, such breakouts see temporary pullbacks to the midline (~$98), which now converges with the 50-day MA for technical confluence.
Volume-Price Relationship
The 5.89 million shares traded on September 26 represent a 137% increase over the 10-day average, validating the bullish move. High-volume declines on September 19 and 22 signaled distribution, but subsequent low-volume consolidation and the high-volume surge suggest absorption of selling pressure. Sustained volume above average is now critical for upside continuation.
Relative Strength Index (RSI)
RSI (14-day) rebounded sharply from 38 to 57—exiting the neutral zone but not yet overbought. The recovery from near-oversold conditions aligns with price strength. Caveat: Prior rallies faded when RSI approached 65, warranting monitoring as it nears this threshold.
Fibonacci Retracement
Using the July peak ($116.01) and September trough ($95.33), key levels are established. The 61.8% retracement at $108 aligns with late-August resistance, while the 38.2% level ($103.20) matches September 26’s intraday rejection. The 23.6% level ($100.50) coincides precisely with the current close, creating an immediate pivot zone.
Confluence and Divergence
Confluence exists between the Fibonacci 23.6% level ($100.50), psychological $100 support, and the 100-day MA. The volume surge and RSI recovery reinforce this technical floor. MACD/KDJ divergences preceded the reversal, but current alignment between momentum and price action supports bullish momentum. Key resistance confluence remains at $102-$103, where Bollinger Upper Band, the 38.2% Fibonacci, and horizontal resistance converge.