DEC18 2053EST. Shares of C.H. Robinson Worldwide (CHRW), the logistics firm and NAZDAQ-100 component, have today pierced through the resistance trendline of a 2-year price channel. The break occurred on somewhat higher volume than average (1.4M shares vs. a 3-month average of 1.2M). In the screenshot below, the channel is shown in dashed yellow, and it stretches back to October 2010. C.H. Robinson also reached and closed at a 6-month high.
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| CHRW. Sept 2010 to present. Daily candles. |
Zooming into the hourly candles chart, CHRW appears to present two potential buy points. One would be at fresh highs (just above $63.85), especially if reached within a bullish overall market environment. Another would be on a retracement to a 2-month trendline, shown below in dashed grey, which would coincide with a price of around $62.85 or just below. A sound stop-loss point might be underneath the 5-month price channel, shown below in dashed red.
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| CHRW. July 16, 2012 to present. Hourly candles. |
