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!