C.H. Robinson Worldwide stock upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on Dec 08, 2021)
Buy candidate since 2021-12-08 PDF
The C.H. Robinson Worldwide stock price gained 1.31% on the last trading day (Wednesday, 8th Dec 2021), rising from $98.29 to $99.58. , and has now gained 6 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the day the stock fluctuated 1.34% from a day low at $98.63 to a day high of $99.96. The price has risen in 6 of the last 10 days and is up by 1.85% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 70 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $103.24 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.09% during the next 3 months and, with a 90% probability hold a price between $104.55 and $116.67 at the end of this 3-month period.
Signals & Forecast
The C.H. Robinson Worldwide stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $96.56 and $96.21. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, October 22, 2021, and so far it has fallen -0.12%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss
C.H. Robinson Worldwide finds support from accumulated volume at $97.64 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.33 between high and low, or 1.34%. For the last week the stock has had a daily average volatility of 1.93%.
Since the C.H. Robinson Worldwide has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $95.91 (-3.69%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 32 days ago.)
Is C.H. Robinson Worldwide stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for C.H. Robinson Worldwide stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.819
Predicted Opening Price for C.H. Robinson Worldwide of Thursday, December 9, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 9, 2021||Current price|
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On Oct 28, 2021 "Robert W. Baird" gave "" rating for CHRW. The price target was changed from $97.64 to 0.9%.
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