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Norfolk Southern Falls 4.03% on Heavy Volume: Watch For Potential Rebound

By James Quinn

Norfolk Southern (NYSE:NSC) traded in a range yesterday that spanned from a low of $158.67 to a high of $163.17. Yesterday, the shares fell 4.0%, which took the trading range below the 3-day low of $165.05 on volume of 863,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Norfolk Southern share prices have been bracketed by a low of $127.79 and a high of $186.91 and are now at $159.20, 25% above that low price. The 200-day and 50-day moving averages have moved 0.27% higher and 0.49% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Norfolk Southern and will alert subscribers who have NSC in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Norfolk Southern

Ticker(s): NSC