There are signs that NASDAQ:CHRW may be ready to breakout.

Our stockscreener has identified a possible breakout setup on C.H. ROBINSON WORLDWIDE INC (NASDAQ:CHRW). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:CHRW for potential opportunities.

Deciphering the Technical Picture of NASDAQ:CHRW

ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 8 out of 10 to CHRW. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, CHRW is only an average performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• CHRW is one of the better performing stocks in the Air Freight & Logistics industry, it outperforms 82% of 18 stocks in the same industry.
• CHRW is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so CHRW is performing more or less in line with the market.
• In the last month CHRW has a been trading in the 84.24 - 91.61 range, which is quite wide. It is currently trading near the high of this range.
• When compared to the yearly performance of all other stocks, CHRW outperforms 66% of them, which is more or less in line with the market.

Check the latest full technical report of CHRW for a complete technical analysis.

How does the Setup look for NASDAQ:CHRW

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NASDAQ:CHRW has a 8 as its setup rating:

Besides having an excellent technical rating, CHRW also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 88.72, a Stop Loss order could be placed below this zone.

Trading setups like NASDAQ:CHRW

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Of course, there are many ways to trade or not trade NASDAQ:CHRW and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.