Norfolk Souther Corporation Stock Forecast

Norfolk Souther Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Apr 18, 2024)

NSC Signals & Forecast

The Norfolk Souther Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $244.74 and $252.88. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Wednesday, April 17, 2024, and so far it has risen 0.389%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

Support, Risk & Stop-loss for Norfolk Souther Corporation stock

Norfolk Souther Corporation finds support from accumulated volume at $238.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $4.36 (1.82%) between high and low. For the last week, the stock has had daily average volatility of 2.07%.

Norfolk Souther Corporation is oversold on RSI14 (24). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: $226.16 (-5.87%) (This stock has low daily movements and this gives low risk. Low RSI14 is 24 which reduces the risk some. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (NSC) For The Upcoming Trading Day Of Friday 19th

For the upcoming trading day on Friday, 19th we expect Norfolk Souther Corporation to open at $241.38, and during the day (based on 14 day Average True Range), to move between $235.23 and $245.31, which gives a possible trading interval of +/-$5.04 (+/-2.10%) up or down from last closing price. If Norfolk Souther Corporation takes out the full calculated possible swing range there will be an estimated 4.20% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $238.41 (0.77%) than the resistance at $248.03 (3.23%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Norfolk Souther Corporation stock A Buy?

Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.126 Buy Candidate Upgraded

Predicted Opening Price for Norfolk Souther Corporation of Friday, April 19, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.