Norfolk Souther Corporation Stock Forecast
Norfolk Souther Corporation stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on Apr 17, 2024)
The Norfolk Souther Corporation stock price fell by -1.47% on the last day (Wednesday, 17th Apr 2024) from $242.91 to $239.34. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.75% from a day low at $239.08 to a day high of $243.28. The price has fallen in 6 of the last 10 days and is down by -4.96% for this period. Volume has increased on the last day by 205 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 985 thousand shares were bought and sold for approximately $235.72 million.
Given the current short-term trend, the stock is expected to rise 3.44% during the next 3 months and, with a 90% probability hold a price between $247.56 and $275.72 at the end of this 3-month period.
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NSC Signals & Forecast
There are few to no technical positive signals at the moment. 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 $246.62 and $253.26. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 13, 2024, and so far it has fallen -9.04%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more 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.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $4.19 between high and low, or 1.75%. For the last week the stock has had daily average volatility of 2.13%.
Our recommended stop-loss: $229.47 (-4.12%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 24 days ago.)
Trading Expectations (NSC) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Norfolk Souther Corporation to open at $240.57, and during the day (based on 14 day Average True Range), to move between $234.28 and $244.40, which gives a possible trading interval of +/-$5.06 (+/-2.11%) up or down from last closing price. If Norfolk Souther Corporation takes out the full calculated possible swing range there will be an estimated 4.22% 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 (0.39%) than the resistance at $248.03 (3.63%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Norfolk Souther Corporation will release earnings BMO on Wednesday, April 24, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.61. We will update the financials statements for Norfolk Souther Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.98% in the first trading day after earnings release.
Is Norfolk Souther Corporation stock A Buy?
Norfolk Souther Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.662 Hold/Accumulate Upgraded
Predicted Opening Price for Norfolk Souther Corporation of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $240.57 ( 0.512%) | $239.34 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NSC
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 244.76 | 2.26 % | |
| R2 | 243.16 | 1.60 % | ||
| R1 | 242.17 | 1.18 % | ||
| Current price: | 239.34 | |||
| Support | S1 | 238.96 | -0.158 % | |
| S2 | 237.97 | -0.571 % | ||
| S3 | 236.37 | -1.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 255.23 | 6.64 % | |
| R2 | 251.08 | 4.91 % | ||
| R1 | 248.03 | 3.63 % | ||
| Current price | 239.34 | |||
| Support | S1 | 238.41 | -0.389% | |
| S2 | 237.85 | -0.623% | ||
| S3 | 234.26 | -2.12% |
NSC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 24, 2024 | Feb 02, 2024 | Feb 20, 2024 | $1.35 | 0.532% |
| 2 | Jan 24, 2024 | Feb 01, 2024 | Feb 20, 2024 | $1.35 | 0.532% |
| 3 | Oct 24, 2023 | Nov 02, 2023 | Nov 20, 2023 | $1.35 | 0.636% |
| 4 | Jul 25, 2023 | Aug 03, 2023 | Aug 21, 2023 | $1.35 | 0.643% |
| 5 | Apr 25, 2023 | May 04, 2023 | May 20, 2023 | $1.35 | 0.620% |
FAQ
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