Competing to Become the Polar Express
- Posted by Greg Harmon
- on November 25th, 2013
The train stocks have long been a harbinger for the economy and thus the stock market as well. Strong performance for these companies signals a lot of activity moving things around the country. So how are the stocks doing heading into the holiday season? All kids like trains for Christmas but these names look like they are competing to be the Polar Express. Take a look.
Kansas City Southern, $KSU
Kansas City Southern, $KSU, has been consolidating in a slowly expanding triangle since late October. This is after a move higher from resistance at 113.25. A break higher would trigger a target of 133, but it has some work to do to prove that it wants to go higher and now retrace back to 113.25. A dark horse for now.
Norfolk Southern, $NSC
Norfolk Southern, $NSC, looks a lot better. The consolidation after the move higher is in a flat channel with the RSI holding in bullish territory. A break over 88 carries a Measured Move higher to 95. With the Bollinger bands very tight look for something to happen soon.
Union Pacific, $UNP
Union Pacific, $UNP, may be the best set up of them all though. The consolidation in the box has been going on since early May between 150 and 164. A break higher on this name carries a Measured Move to about 192. With the RSI bullish and rising and the MACD also rising this stock is in the lead for that trip to the North Pole higher.
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Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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