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Downtrend exhaustion - Stock Market Timing Signals and trading strategies.

Downtrend exhaustion stock alert presents a stock market trading strategy based on combination of timing signals, technical indicators, trend analysis and pattern recognition. Stock market alert is a warning signal. It indicates that long term downtrend is exhausted and probability of long term trend reversal is high. Downtrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for undervalued stocks. The strategy is based on taking long position on anticipation of downtrend reversal. Downtrend exhaustion timing strategy and stock trading system presents alerts for S&P 500 index members, ETFs and market indices. As S&P 500 trading system it shows excellent results for index timing also.

Downtrend Exhaustion

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- 5/17/2024 -
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Norfolk Southern Corp. (NSC) Technical Analysis

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Summary:
Weekly :Broken trend support lineBroken trend resistance lineLane's Stochastic is oversold
Daily :Daily  MACD line has moved above its signal lineThe price has risen above the Parabolic SAR
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It was a first positive week after 6 consecutive negative weeks for the Norfolk Southern Corp. (NSC). During the week, the NSC climbed 1.18 points, or 0.51%, and closed at 231.47 on Friday, May 17, 2024. It was the best weekly gain since March 8, 2024. Weekly volume was 28% above average.

Long-term trend: [See NSC long-term trend chart]
A long-term downtrend had started on December 31, 2021 at 299.20 and reached 183.09 on October 25, 2023. NSC lost 116.11 points, or 38.81%, in 94 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (171.95) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See NSC medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 183.09 and reached 263.66 on March 13, 2024. NSC gained -80.57 points, or -44.01%, in 20 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (293.04) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See NSC weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since April 12, 2024. The distance between MACD and the signal line is relatively high and getting bigger. Use the following link to access a MACD help.

Short-term trend: [See NSC short-term trend chart]
A short-term uptrend had started on May 9, 2024 at 219.98 and reached 233.63 on May 17, 2024. NSC gained -13.65 points, or -6.21%, in 8 days. The price is now at the 15.82% retracement level.

Daily Technical Indicators: [See NSC daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.10
Williams' Percentage Range (W%R) 50.60
Lane's Stochastic (%D-Slow) 68.58
Greed/Fear Indicator (GFI) 51.70
Moving Average Converg./Diverg. (MACD) -4.39
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 23.00
Williams' Percentage Range (W%R) 69.20
Lane's Stochastic (%D-Slow) 16.56
Oversold
Greed/Fear Indicator (GFI) 29.74
Moving Average Converg./Diverg. (MACD) 7.32
Trading Signals
Description Value Chart
Upper Bollinger Band 245.17
50 Day Moving Average 244.83
20 Day Moving Average 234.31
Price 231.47
Daily Stochastic Crossing 229.54
Weekly Stochastic Crossing 227.49
Monthly Trendline Resistance 225.75
Lower Bollinger Band 224.49
Parabolic System 222.44
Monthly Trendline Support 214.35
Yearly Trendline Resistance 207.22
Sector and Industry
Description Name Rank
Sector Industrials 7
Industry Railroads 18
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 219.98
Low Date 05/09/2024
High 233.63
High Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 219.98
Low Date 05/09/2024
High 233.63
High Date 05/17/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 225.75
Support 214.35
High 263.66
High Date 03/13/2024
Low 219.98
Low Date 05/09/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 287.52
Support 293.04
Low 183.09
Low Date 10/25/2023
High 263.66
High Date 03/13/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 207.22
Support 171.95
High 299.20
High Date 12/31/2021
Low 183.09
Low Date 10/25/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.