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Watch for Norfolk Southern to Potentially Pullback After Gaining 1.67% Yesterday

By Nick Russo

Norfolk Southern (NYSE:NSC) traded in a range yesterday that spanned from a low of $180.66 to a high of $182.04. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $179.49 on volume of 876,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Norfolk Southern share prices have moved between a 52-week high of $211.46 and a 52-week low of $138.65 and are now trading 31% above that low price at $181.10 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Norfolk Southern on July 24th, 2019 by issuing a Downtrend alert when the shares were trading at $186.96. Since that call, shares of Norfolk Southern have fallen 4.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders Norfolk Southern

Ticker(s): NSC