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SmarTrend Watching for Potential Rebound in Shares of Canadian National Railway After 1.48% Loss

By Shiri Gupta

Canadian National Railway (NYSE:CNI) traded in a range yesterday that spanned from a low of $56.29 to a high of $57.47. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $57.97 on volume of 1.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 5.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Over the past year, Canadian National Railway has traded in a range of $46.23 to $66.46 and is now at $56.80, 23% 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%.

Keywords: rebounders canadian national railway

Ticker(s): CNI