CHRW pushes through previous session high

C. H. Robinson Worldwide (CHRW) Technical Analysis Report for Apr 16, 2018

Highlights

CHRW rallies 3.55% on high volume
CHRW pushes through previous session high
CHRW rises to highest close since Inception
CHRW ends the day indecisive

TQ Sentiment

Report Sentiment: 60% Bullish
Technical Forecast:

Overview

CHRW ended Monday at 97.62 surging $3.35 (3.55%) on high volume. This is the biggest single day gain in over three years. Today's closing price of 97.62 marks the highest close since Inception. Closing above Friday's high at 95.99, the market confirms its breakout through the prior session's high having traded $2.67 above it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for CHRW

Volatility

Monday's trading range was $2.17 (2.24%), that's slightly above last trading month's daily average range of $2.06. Weekly volatility is also higher, being above the markets average with the monthly volatility being above average.

Support/Resistance

Prices are trading close to a key support level at 96.31.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

With prices trading close to this year's high at 99.69, upside momentum might speed up should the share be able to break out to new highs for the year.

Conclusion

While classical technical analysis indicates a slightly bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for C. H. Robinson Worldwide

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Latest Report:

CHRW finds buyers again around 96.09

Sep 21, 2018
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