The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Norfolk Southern Corp shares valued at $255,000 were purchased by Fahmy Sameh on Oct 24 ’24. At $255.00 per share, Fahmy Sameh acquired 1,000 shares. The insider’s holdings grew to 10,000 shares worth approximately $2.75 million following the completion of this transaction.
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Also, ANDERSON RICHARD H purchased 1,000 shares, netting a total of over 257,850 in proceeds. Following the buying of shares at $257.85 each, the insider now holds 4,000 shares.
Before that, Shaw Alan H. had sold 51,325 shares from its account. In a trade valued at $13,138,302, the Former CEO / Director traded Norfolk Southern Corp shares for $255.98 each. Upon closing the transaction, the insider’s holdings decreased to 51,325 shares, worth approximately $9.65 million.
As published in their initiating research note from Citigroup on October 09, 2024, Norfolk Southern Corp [NSC] has been a Buy and the price target has been revised to $294. Analysts at TD Cowen resumed the stock at ‘”a Hold”‘ outlook in a report released in late July. Earlier on June 07, 2024, Wells Fargo initiated its rating. Their recommendation was “an Overweight” for NSC stock.
Analyzing NSC Stock Performance
During the last five days, there has been a surge of approximately 6.35%. Over the course of the year, Norfolk Southern Corp shares have jumped approximately 16.50%. Shares of the company reached a 52-week high of $277.60 on 11/06/24 and a 52-week low of $206.71 on 06/25/24. A 50-day SMA is recorded $255.59, while a 200-day SMA reached $243.45. Nevertheless, trading volume fell to 0.63 million shares from 1.19 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 274.39, which, if violated, would cause prices to drop to 273.41. In the upper region, resistance lies at 276.82. The next price resistance is at 278.27. RSI (Relative Strength Index) is 63.92 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 8.16, which suggests the price will increase in the coming days. Percent R is at 9.58%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
