Look for Shares of Norfolk Southern to Potentially Rebound after Yesterday's 1.76% Sell Off
Norfolk Southern (NYSE:NSC) traded in a range yesterday that spanned from a low of $81.79 to a high of $83.41. Yesterday, the shares fell 1.8%, which took the trading range below the 3-day low of $82.85 on volume of 541,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.
Over the past year, Norfolk Southern has traded in a range of $64.51 to $104.58 and is now at $82.49, 28% above that low. The 200-day and 50-day moving averages have moved 0.09% higher and 1.45% higher over the past week, respectively.
SmarTrend is monitoring the recent change of momentum in Norfolk Southern. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Norfolk Southern in search of a potential trend change.
Keywords: rebounders Norfolk Southern