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Bullish Moving Average Cross by Canadian National Railway (CNI)

By Nick Russo

Canadian National Railway (NYSE:CNI) shares have crossed bullishly above their 10-day moving average of $58.15 on a volume of 244K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Canadian National Railway has traded in a range of $46.23 to $66.46 and is now at $58.28, 26% above that low. 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 6.4%. 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