C. H. Robinson Closing in to Support

Published on Monday, 08 February 2010 20:31 Written by Danny Miller

New York, Feb 8^th (TradersHuddle.com) - Shares of C.H. Robinson Worldwide, Inc. (NASDAQ:CHRW) are trading very close to calculated support at $51.16 with current price action closing at just $52.08 places the stock price near levels where traders will start paying attention.

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's current stock range is defined by current calculated support defined at $51.16 and by the resistance level at $60.25, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to C. H. Robinson's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $60.25 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.