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Quarterly Price vs. Trendline:Testing Resistance
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Trend Line Resistance Trend Line Support Resistance.

Trendline support resistance provides an excellent buy/sell signals in trending market. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Take profit on the trend line resistance level. Reverse the technique in a downtrend. Short around the resistance trend line level and place a stop order above the trend line resistance.

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- 3/15/2024 -
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Norfolk Southern Corp. (NSC) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal lineMACD bearish divergenceBroken trend resistance lineTrend support at 254.34
Daily :Broken trend support lineA Parabolic SAR indicator is above and near the priceThe price is close to the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
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It was the negative week for the Norfolk Southern Corp. (NSC). During the week, the NSC dropped -3.71 points, or -1.43%, and closed at 255.83 on Friday, March 15, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was -23% below 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 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 (175.53) 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 Channel chart pattern. The price is near the trend support (254.34) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.

Weekly Technical Indicators: [See NSC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. 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 February 28, 2024 at 251.42 and reached 263.66 on March 13, 2024. NSC gained -12.24 points, or -4.87%, in 14 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (256.86) 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 short-term trend.

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

The daily MACD line is below its signal line since February 21, 2024. The distance between MACD and the signal line is low, but getting bigger.

A Parabolic SAR (stop and reversal) indicator (254.86) comes close to the price (255.83). It indicates that the trend is getting weaker. 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.

The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 4.46% on Friday. It is 55.58% lower than one year average. It indicates the period of low volatility of the stock price. 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) 51.97
Williams' Percentage Range (W%R) 66.50
Lane's Stochastic (%D-Slow) 64.84
Greed/Fear Indicator (GFI) 50.09
Moving Average Converg./Diverg. (MACD) 3.71
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.39
Williams' Percentage Range (W%R) 10.30
Overbought
Lane's Stochastic (%D-Slow) 87.90
Overbought
Greed/Fear Indicator (GFI) 78.38
Moving Average Converg./Diverg. (MACD) 8.11 Bearish
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 272.93
Weekly Trendline Resistance 264.68
Upper Bollinger Band 261.44
Daily Stochastic Crossing 260.11
Weekly Stochastic Crossing 259.02
Weekly Trendline Support 256.86
20 Day Moving Average 256.57
Price 255.83
Parabolic System 254.86
Quarterly Trendline Support 254.34
Lower Bollinger Band 250.02
50 Day Moving Average 246.71
Yearly Trendline Resistance 213.98
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Railroads 92
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 263.66
High Date 03/13/2024
Low 255.08
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 264.68
Support 256.86
Low 251.42
Low Date 02/28/2024
High 263.66
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 224.42
Low Date 01/11/2024
High 263.66
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 272.93
Support 254.34
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 213.98
Support 175.53
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.