According to Barchart one of S&P 100 stock showing great price momentum is Norfolk Southern (NSC). The stock has seen 4 new highs and is up 2.26% in just the last month. The company has some new plans in place to cut cost and take advantage of higher fuel cost that the trucking industry is experiencing.
Barchart technical indicators:
- 100% Barchart technical buy signal
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 4 new highs and up 2.26% in the last month
- Relative Strength Index 61.07% and rising
- Trades around 74.21 with a 50 day moving average of 71.53
Summary: As oil prices rise power plants become increasingly dependent on coal to control cost and trains carry the majority of the coal. As gasoline and diesel prices stay high more and more companies use intermodal means of shipping containers and use the rail to ship them. The company is hiring but this is a good thing as it is trying to lower the costly over-time they have been paying. It's hard not to see how trains benefit over trucking in a high oil price environment we are now experiencing so put Norfolk Southern (NSC) on your watch lists.
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