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Downtrend ExhaustionArchive
- 7/19/2024 -
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Norfolk Southern Corp. (NSC) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a third consecutive positive week for the Norfolk Southern Corp. (NSC). During the week, the NSC gained 6.60 points, or 2.98%, and closed at 227.95 on Friday, July 19, 2024. Weekly volume was -15% below average.
 Long-term trend: [See NSC long-term trend chart]
A long-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 price is now at the 44.32% retracement level.
 Medium-term trend: [See NSC medium-term trend chart]
A medium-term downtrend had started on March 13, 2024 at 263.66 and reached 206.71 on June 25, 2024. NSC lost 56.95 points, or 21.60%, in 14 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See NSC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. 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 June 25, 2024 at 206.71 and reached 236.25 on July 17, 2024. NSC gained -29.54 points, or -14.29%, in 22 days. The price is now at the 28.10% retracement level.
 Daily Technical Indicators: [See NSC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since July 3, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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