More Upside for C. H. Robinson ?

Published on Monday, 09 August 2010 12:35 Written by TradersHuddle Staff

New York, August 9th (TradersHuddle.com) - Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) booked a new 52 week high today by trading above $67.59, traders are definitely monitoring C. H. Robinson's price action to see if this move attracts further buying into the stock.

C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) provides multimodal transportation services and logistics solutions. The Company provides a variety of logistics services, such as fresh produce sourcing and freight consolidation.

C. H. Robinson is currently trading 0.63% versus its previous trading session close, and it has calculated support and resistance at $54.50 and $65.45 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range

The overall market index S&P 500 is trading higher by 0.35% from its previous trading close, which means that C. H. Robinson stock is outperforming the overall market.