Bearish Moving Average Cross by CH Robinson Worldwide (CHRW)

Published on Wed, 03/25/2015 - 11:27
By Adrienne Chilton in Moving average crossovers, CHRW, ch robinson worldwide, moving crosses, nasdaq:chrw

CH Robinson Worldwide (NASDAQ:CHRW) shares have crossed bearishly below their 10-day moving average of $74.85 on a volume of 486K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, CH Robinson Worldwide share prices have been bracketed by a low of $50.38 and a high of $77.49 and are now at $74.51, 48% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.3%.

CH Robinson Worldwide has overhead space with shares priced $74.51, or 1.2% below the average consensus analyst price target of $75.38. The stock should find initial support at its 50-day moving average (MA) of $73.27 and further support at its 200-day MA of $69.64.

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.

By Adrienne Chilton
achilton@fnno.com

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