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SmarTrend Watching for Potential Pullback in Shares of Canadian National Railway After 1.22% Gain

By David Diaz

Canadian National Railway (NYSE:CNI) traded in a range yesterday that spanned from a low of $78.98 to a high of $80.74. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $80.04 on volume of 683,000 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, Canadian National Railway has traded in a range of $46.23 to $80.74 and is now at $80.53, 74% above that low. The 200-day and 50-day moving averages have moved 0% lower and 0.37% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Canadian National Railway on November 21st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $65.38. Since that recommendation, shares of Canadian National Railway have risen 21.9%. We continue to monitor CNI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders canadian national railway

Ticker(s): CNI