Wall Street Traders Column 9/19/05 - Buy NSC
September 19th, 2005 / 6:23 pm / by Harry Aloof
Buy Alert - NORFOLK SOUTHERN CORP (NSC-NYSE) Report No. 2136, Analysis by Harry Aloof - Technical Viewpoint - From a low of $29.78 on Jun 29, 2005 prices rallied, reaching a high of $38.22 on Jul 19, 2005. A decline saw prices pull back, reaching a low of $35.24 on Aug 30, 2005. Another rally saw prices penetrate resistance line “A”, closing 9/16/05 at $37.31. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Sep 16, 2005 when the Histogram crossed the “0″ line to the upside. Support: Remains at $33.00. Resistance: Is at $37.44. Point & Figure: Reversed to the upside on Jul 15, 2005. A P&F downside reversal takes place at $35.00. Summary: Technical indicators have turned bullish. BUY! Norfolk Southern Corp (NSC-NYSE) @ $37.38 Stop: Use a protective stop of $35.38. Norfolk Southern Corp is currently trading @ $37.31 plus $1.54 on Sep 16, 2005. Price Objective: $47.50. Risk/Reward: $2.00 VS. $10.38. Today’s Risk Reward Ratio: 5:1
