Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolios

Railroad Stocks Take the Southbound Train

Published 07/03/2013, 01:02 PM
Updated 07/09/2023, 06:31 AM
UNP
-
NSC
-
NG
-
KSU
-
CP
-
USA
-

This morning, most of the leading railroad stocks are declining at the start of the trading session. One of the leading stocks in the sector is Norfolk Southern Corp (NSC). Today, NSC is trading lower by 0.53 cents to $71.70 a share. Day traders should watch for intra-day support around the $71.30 level. That level should provide for a quick bounce area for the fast trader. The daily chart is actually showing support at the current level and more chart support around the $69.75 area. When analyzing charts, the shorter time frames can be used for day trades, and the larger for swing trade entries/exits.

Some of the other leading railroad stocks that are trading lower today include Union Pacific Corporation (UNP), Kansas City Southern (KSU), and Canadian Pacific Railway Limited (USA) (CP). Traders and investors will want to follow the progress of the highly controversial Keystone Pipeline. Should the pipeline get passed by the U.S. government it could hurt the railroad stocks which are transporting oil, coal, and natural gas throughout North America.
NSC

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.