After Yesterday's Rally of 1.90% Shares Could Potentially Pullback
Norfolk Southern (NYSE:NSC) traded in a range yesterday that spanned from a low of $92.12 to a high of $94.30. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $92.97 on volume of 564,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Norfolk Southern has traded in a range of $64.51 to $104.58 and is now at $94.18, 46% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.5%.
SmarTrend recommended that subscribers consider buying shares of Norfolk Southern on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $88.29. Since that recommendation, shares of Norfolk Southern have risen 4.5%. We continue to monitor NSC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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