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Bullish Moving Average Cross by Canadian National Railway (CNI)

By Shiri Gupta

Canadian National Railway (NYSE:CNI) crossed over its 10-day moving average of $58.67 on a volume of 260K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Canadian National Railway have traded between a low of $46.23 and a high of $66.46 and are now at $59.07, which is 28% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Canadian National Railway on May 2nd, 2016 by issuing a Downtrend alert when the shares were trading at $61.41. Since that call, shares of Canadian National Railway have fallen 5.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses canadian national railway

Ticker(s): CNI