Stock Picks – C.H. Robinson Worldwide Inc-CHRW

by Sam Collins | January 15, 2010 11:41 am

C.H. Robinson Worldwide Inc. (CHRW[1]) – This global logistics and transportation services and logistics company formed a huge double-bottom[2] in Oct 2008 and March 2009, breaking from a compound “W” in August that had a trading target of $64.

CHRW Chart

Chart Legend

In October, a high of over $61 was achieved before profit-taking drove the price to $56.

CHRW has been consolidating within a triangle[3] with trading centered on a conjunction of the 20- and 50-day moving averages[4], and a recent double buy signal from our internal indicator, the Collins-Bollinger Reversal (CBR), is a strong positive.

A break above $60 has a trading target of $64, but a longer-term target of $80.

S&P has a “five-star strong buy” on the stock with a 12-month target of $80.

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Links in this item:

CHRW: http://studio-5.financialcontent.com/investplace/quote?Symbol=chrw
double-bottom: http://www.optionszone.com/learn-more/john-lansing/chart-analysis-101-double-bottom-and-double-top.html
triangle: http://www.optionszone.com/learn-more/john-lansing/technical-analysis-101-triangles.html
moving averages: http://www.optionszone.com/learn-more/chris-rowe/how-moving-averages-work.html
Start now.: http://www.optionszone.com/order/?sid=FA3222
: http://www.optionszone.com/order/?sid=YE3198

Source URL: http://www.investorplace.com/2010/01/stock-picks-ch-robinson-worldwide-inc-chrw/
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