Hey my friends, NORFOLK SOUTHERN CORP is in a historic moment we can see it making a new historical high. It is in a fake bearish push with a large volume of buying executed at the end of the session and a refusal from the sellers. In TIMEFRAME M1 we notice an attempt by repressed buyers with a large volume of traded sales. And we zoom in we can see that it wanted...
$NSC stock price has been repeating the same bullish pattern since 2018 on the weekly chart
Stock is forming bullish flags for around 2 quarters (tends to under-perform the sector and the market) and then is breaking out higher (catching up with the market)
The stock has declined 3.9% over the past three months, while the Dow Jones Transportation Average has...
NYSE:NSC
You can keep repeating that the technical analysis does not give any kind of indication...that it's like flipping a coin...which is like going to the casino...
We only take it as a reference point for our entry points, and everything else we manage with clear money management models together with the use of regulated instruments such as shares, futures...
This has already poked through this support line twice. Below all EMA's. Stop above the previous weeks candle. Wanting this to make a lower low for entry.
AVERAGE ANALYSTS PRICE TARGET $
AVERAGE ANALYSTS RECOMMENDATION
P/R RATIO 17
SHORT INTEREST 2%
COMPANY PROFILE
Norfolk Southern Corp. is a transportation company, which owns a freight railroad. It engages in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange...
NYSE:NSC
Why do I choose technical analysis for trading?
Because the psychological state of traders / investors is always a representation on a scale between greed and fear, which creates in all markets patterns that repeat themselves for more than a hundred years, and if you are aware of their % profitability, and the difference between the amount of profit...
looks to be on a pullback to the supporting trendline. The 50dayMA is still above the 200dayMA so there is a good chance that it gets oversold, bounces off the support.
An intraday high potential, Back Tested Sort Analysis.
We ll try to enter into the correction of the uptrend movement.
DETAILS ON THE CHART
NOTE: Entry range area above the entry point, is calculated upon 80% of the recorded pullback back tested past performances
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.
I reckon there is still some more upside for this (and many other US stocks) but it sure looks like we are approaching a top of some sort some time soon.
