Long Position on ECHO @ $36.50 on 9/11/2018 (Momentum)

Echo Global Logistics, Inc. (ECHO) provides technology-enabled transportation and supply chain management solutions in the United States.

It uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs.

The company offers services in various transportation modes, such as truckload, less-than truckload, small parcel, inter-modal, domestic air, and expedited and international.

Its principal transportation management and logistics services include rate negotiation; procurement of transportation; shipment execution and tracking; carrier management, selection, reporting, and compliance; executive dashboard presentations and detailed shipment reports; freight bill payment and audit; claims processing and service refund management; design and management of inbound client freight programs; individually configured Web portals and self-service data warehouses; enterprise resource planning integration with transactional shipment data; and integration of shipping applications into client e-commerce sites, as well as back-end reports customized to the internal reporting needs of the business.

The company serves clients operating in various industries, such as manufacturing, construction, food and beverage, consumer products, and retail. 

Shares have formed a bullish "cup and handle" and broke out of this formation yesterday. Higher share prices are expected for this stock.

Entry Point: $36.50

Stop Loss: $34.50

Trading Range: $15.50 - $36.75

Target Price: $40.15

Updates

2/27/2019 2:04:54 PM

ECHO closed at $24.00

Position closed on 2/27/2019 at price of $24.00 with a -34.25% loss in 169 days.

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