Canadian National Railway
Canadian National Railway (CNI) is engaged in the rail and related transportation business. Canadian National Railway manages its rail operations in Canada and the U.S. This stock is trading up 1.2% at $89.20 in recent trading.
Today's Volume: 660,000
Average Volume: 532,780Volume % Change: 107% From a technical perspective, CNI is bouncing modestly to the upside here right off some near-term support at $88 with above-average volume. This move is quickly pushing CNI within range of triggering a near-term breakout trade. That trade will hit once CNI manages to clear its 50-day moving average of $89.84 with high volume. Traders should now look for long-biased trades in CNI as long as it's trending above $88, and then once it sustains a move or close above $89.84 with volume that's near or above 532,780 shares. If that breakout triggers soon, then CNI will have a great chance of re-testing or possibly taking out its next major overhead resistance levels at $92 to $94.83. On the flip side, I would avoid CNI or look for short-biased trades if it fails to trigger that move, and then drops back below some key near-term support at $88.02 with high volume.
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