• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Ch Robinson (NASDAQ:CHRW)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ch Robinson (NASDAQ:CHRW) based on the price action in the company's shares. Today's price range of $86.53 and $87.82 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Ch Robinson may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Ch Robinson has traded in a range of $77.72 to $101.20 and is now at $87.18, 12% above that low. The 200-day and 50-day moving averages have moved 0.16% lower and 0% lower over the past week, respectively.

C.H. Robinson Worldwide, Inc. provides multimodal transportation services and logistics solutions. The Company operates a network of offices in North America, Europe, Asia, South America, and the Middle East. C.H. Robinson provides a variety of logistics services, such as fresh produce sourcing and freight consolidation.

Ch Robinson (NASDAQ:CHRW) has potential upside of 3.9% based on a current price of $87.18 and analysts' consensus price target of $90.56. The stock should discover initial support at its 200-day moving average (MA) of $85.52 and subsequent support at its 50-day MA of $83.64.

SmarTrend recommended that subscribers consider buying shares of Ch Robinson on June 13th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $82.99. Since that recommendation, shares of Ch Robinson have risen 7.3%. We continue to monitor CHRW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle ch robinson

Ticker(s): CHRW