Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Norfolk Southern Corp. shares valued at $88,517 were purchased by Nag Nabanita C on Jul 29 ’24. At $249.34 per share, Nag Nabanita C acquired 355 shares.
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Also, ANDERSON RICHARD H purchased 2,000 shares, netting a total of over 494,960 in proceeds. Following the buying of shares at $247.48 each, the insider now holds 3,000 shares.
Before that, Nag Nabanita C had sold 355 shares from its account. In a trade valued at $88,530, the EVP Corp Affairs, CLO&Corp Sec traded Norfolk Southern Corp. shares for $249.38 each. Upon closing the transaction, the insider’s holdings decreased to 355 shares, worth approximately $0.37 million.
As published in a research note from TD Cowen on July 26, 2024, Norfolk Southern Corp. [NSC] has been retained to a Hold and the price target has been revised to $253. As of June 07, 2024, Wells Fargo has initiated its “an Overweight” rating for NSC. Earlier on May 23, 2024, RBC Capital Mkts upgraded its rating. Their new recommendation was “an Outperform” for NSC stock which previously was a “a Sector perform”.
Analyzing NSC Stock Performance
During the last five days, there has been a surge of approximately 12.75%. Over the course of the year, Norfolk Southern Corp. shares have jumped approximately 5.58%. Shares of the company reached a 52-week high of $263.66 on 03/13/24 and a 52-week low of $206.71 on 06/25/24. A 50-day SMA is recorded $224.28, while a 200-day SMA reached $230.74. Nevertheless, trading volume fell to 0.91 million shares from 1.16 million shares the previous day.
Support And Resistance Levels for Norfolk Southern Corp. (NSC)
According to the 24-hour chart, there is a support level at 246.79, which, if violated, would cause prices to drop to 244.03. In the upper region, resistance lies at 252.47. The next price resistance is at 255.39. RSI (Relative Strength Index) is 72.31 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 15.58, which suggests the price will increase in the coming days. Percent R is at 9.42%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
