$CHRW ready to move higher after breaking its ~17 month base?
* Great earnings in the recent quarters
* Strong up trend
* High 3-month relative strength of 3.82 in the Industrial sector
* Has a U/D Volume Ratio of 0.94 (ideal would have been > 1)
* Pays out a generous dividend
* Breaking out of its ~17 month base
* Due to the recent volatility it had a slight pullback after its previous breakout
* Has been holding up really well over the past week when the general market was selling off like crazy. This is showing relative strength and institutional demand.
* Used the broken level as support and pushed higher from there
Trade Idea:
* It is not advised to trade breakouts in the current market conditions.
* If you want to enter with a small position, now would be a great time to enter as the price is just breaking out once again.
* If you're looking for a better entry you can look for a buying opportunity around the $105.7 area as that should continue serving as support moving forward.
* Strong up trend
* High 3-month relative strength of 3.82 in the Industrial sector
* Has a U/D Volume Ratio of 0.94 (ideal would have been > 1)
* Pays out a generous dividend
* Breaking out of its ~17 month base
* Due to the recent volatility it had a slight pullback after its previous breakout
* Has been holding up really well over the past week when the general market was selling off like crazy. This is showing relative strength and institutional demand.
* Used the broken level as support and pushed higher from there
Trade Idea:
* It is not advised to trade breakouts in the current market conditions.
* If you want to enter with a small position, now would be a great time to enter as the price is just breaking out once again.
* If you're looking for a better entry you can look for a buying opportunity around the $105.7 area as that should continue serving as support moving forward.