TRADE IDEA OF THE WEEK IN CH ROBINSON (CHRW)

Now this week's new Trade Idea of The Week is in CH ROBINSON (CHRW). We decided to enter a bullish position in one of our watchlist stocks, CH ROBINSON. We entered this trade on the long side at $92.94 and we have already made some gains today. This is a great setup that we loved to play called a squeeze. This is where the price consolidates and then starts to move with momentum out of the consolidation. This type of setup can produce some of the best explosive moves. Here is a list of reasons why we like this trade:
The overall market is looking strong in the short term
The transportation sector is looking great right now (you can see this sector's chart on our Sector Watch)
The price is moving higher out of a squeeze
The price has moved above the 21 period moving average with momentum

We are hoping that all of these reasons provide a profitable setup for us to swing trade the next coming days!

Nota

We're still in this trade and have a small gain in it since we entered at $92.94. The stock has held up much better than most of the market after the last 2 days so we will see if this thing can get a bounce while we remain patient in this one.

Nota

Still hanging in here but tomorrow might stop us out. We will see if we can't finally catch a bounce in this or if we get stopped for a loss.

StrengthTrading

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