Norfolk Southern Corporation is engaged in the rail transportation of
raw materials, intermediate products, and finished goods. As of
December 31, 2013, it operated approximately 20,000 miles of road in 22
states and the District of Columbia. The company also operates scheduled
passenger trains; transports overseas freight through various Atlantic
and Gulf Coast ports; and provides logistics services. In addition, it
provides bimodal truckload transportation services primarily utilizing
RoadRailer trailers, a hybrid technology that facilitates over-the-road
and on-the-rail transportation in the eastern United States, as well as
in Ontario and Quebec through a network of terminals. Further, the
company is engaged in the acquisition, leasing, and management of coal,
oil, gas, and minerals; development of commercial real estate;
telecommunications; and leasing or sale of rail property and equipment.
To review Norfolk’s stock, please take a look at the 1-year chart of
NSC (Norfolk Southern Corporation) below with my added notations:
NSC has been trading sideways for the last 2 months. Over that period
of time the stock has formed a decent resistance level at $97.50 (red).
In addition, the stock has also created a level of support at $92.50
(blue). At some point the stock will have to break one of the two
levels the rectangle pattern has created.
The Tale of the Tape: NSC has clear levels of
support ($92.50) and resistance ($97.50). The possible long positions on
the stock would be either on a pullback to $92.50, or on a breakout
above $97.50. The ideal short opportunity would be on a break below
$92.50.
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