Canadian National Railway Company Gaps Down Today, Is Now One of The Worst Performers

 Canadian National Railway Company Gaps Down Today, Is Now One of The Worst Performers

The stock of Canadian National Railway Company (TSE:CNR) gapped down by $0.17 today and has $80.87 target or 7.00% below today’s $86.96 share price. The 9 months technical chart setup indicates high risk for the $66.36B company. The gap down was reported on Oct, 17 by Barchart.com. If the $80.87 price target is reached, the company will be worth $4.65B less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 636,386 shares traded hands. Canadian National Railway Company (TSE:CNR) has risen 10.74% since March 10, 2016 and is uptrending. It has outperformed by 5.13% the S&P500.

Canadian National Railway Company (TSE:CNR) Ratings Coverage

Out of 10 analysts covering Canadian National Railway (TSE:CNR), 6 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 60% are positive. $92 is the highest target while $72 is the lowest. The $84.04 average target is -3.36% below today’s ($86.96) stock price. Canadian National Railway has been the topic of 34 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Canadian National Railway Company (TSE:CNR) earned “Outperform” rating by Raymond James on Tuesday, August 11. FirstEnergy Capital upgraded Canadian National Railway Company (TSE:CNR) on Wednesday, January 27 to “Outperform” rating. As per Thursday, January 14, the company rating was upgraded by Canaccord Genuity. The rating was downgraded by Raymond James on Wednesday, January 27 to “Market Perform”. The stock has “Hold” rating given by TD Securities on Friday, October 7.

More recent Canadian National Railway Company (TSE:CNR) news were published by: Fool.com which released: “Why You’re Right to Invest in Canadian National Railway Company Stock” on September 07, 2016. Also Fool.ca published the news titled: “Why Canadian National Railway Company Is Great for Your Portfolio” on October 07, 2016. Fool.ca‘s news article titled: “Does Canadian National Railway Company Fit in Your Portfolio?” with publication date: September 30, 2016 was also an interesting one.

Canadian National Railway Co is engaged in the rail and related transportation business. The company has a market cap of $66.36 billion. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico. It has a 19.16 P/E ratio. The Company’s freight includes approximately seven commodity groups, such as petroleum and chemicals, metals and minerals, forest products, coal, grain and fertilizers, intermodal and automotive.

CNR Company Profile

Canadian National Railway Company, incorporated on August 24, 1995, is engaged in the rail and related transportation business. The Company’s network of approximately 20,000 route miles of track spans Canada and mid-America, connecting approximately three coasts, including the Atlantic, the Pacific and the Gulf of Mexico. The Company’s network and connections to all Class I railroads provide its clients access to the approximately three North American Free Trade Agreement (NAFTA) nations. The Firm carries over 300 million tons of cargo, serving exporters, importers, retailers, farmers and manufacturers. The Company’s freight includes approximately seven commodity groups, such as petroleum and chemicals, metals and minerals, forest products, coal, grain and fertilizers, intermodal and automotive.

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