The Greedy Trader Weekly Analysis
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Downtrend exhaustion - Stock Market Timing Signals and trading strategies.
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Norfolk Southern Corp. (NSC)

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Summary:
Weekly :Overbought sectorWeekly  MACD line has moved above its signal line
Daily :Stochastic has declined below the signal lineDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Norfolk Southern Corp. (NSC). During the week, the NSC dropped -7.17 points, or -3.29%, and closed at 210.57 on Friday, May 26, 2023. Weekly volume was 13% above average.

NSC is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See NSC long-term trend chart]
A long-term downtrend had started on December 31, 2021 at 299.20 and reached 196.33 on March 24, 2023. NSC lost 102.87 points, or 34.38%, in 64 weeks. The price is now at the 13.84% retracement level.

Medium-term trend: [See NSC medium-term trend chart]
A medium-term uptrend had started on March 24, 2023 at 196.33 and reached 223.99 on May 22, 2023. NSC gained -27.66 points, or -14.09%, in 8 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 199.20 and resistance is at 225.67. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See NSC weekly technical indicators chart]
Weekly technical indicators are neutral.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 April 27, 2023 at 197.83 and reached 223.99 on May 22, 2023. NSC gained -26.16 points, or -13.22%, in 25 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See NSC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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.

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

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.63
Williams' Percentage Range (W%R) 52.10
Lane's Stochastic (%D-Slow) 30.63
Greed/Fear Indicator (GFI) 45.71
Moving Average Converg./Diverg. (MACD) 1.34
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.25
Williams' Percentage Range (W%R) 76.70
Lane's Stochastic (%D-Slow) 51.52
Greed/Fear Indicator (GFI) 39.28
Moving Average Converg./Diverg. (MACD) -8.40
Trading Signals
Description Value Chart
Weekly Trendline Resistance 225.67
Parabolic System 223.34
Upper Bollinger Band 219.79
Weekly Stochastic Crossing 213.15
Daily Stochastic Crossing 211.93
20 Day Moving Average 210.68
Price 210.57
50 Day Moving Average 207.84
Lower Bollinger Band 202.84
Weekly Trendline Support 199.20
Sector and Industry
Description Name Rank
Sector Industrials 9
Industry Railroads 74
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 197.83
Low Date 04/27/2023
High 223.99
High Date 05/22/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 225.67
Support 199.20
Low 196.33
Low Date 03/24/2023
High 223.99
High Date 05/22/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 261.71
High Date 12/14/2022
Low 196.33
Low Date 03/24/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 299.20
High Date 12/31/2021
Low 196.33
Low Date 03/24/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 11.94
Low Date 10/23/2000
High 299.20
High Date 12/31/2021
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.

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