CHRW closes within previous day's range after lackluster session
CHRW finished the week -0.93% lower at 94.90 after gaining $0.15 (0.16%) today. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session.
Friday's trading range was $1.03 (1.09%), that's far below last trading month's daily average range of $1.82. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 93.94.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling could accelerate should prices move below the nearby swing low at 93.94 where further sell stops might get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for C. H. Robinson Worldwide
|4 Consecutive Higher Closes||TQ Pro Members Only|
|Bounced off Technical Support S2||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
|Hanging Man||TQ Pro Members Only|
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