Canadian National Railway Company (CNI) : Traders are bullish on Canadian National Railway Company (CNI) as it has outperformed the S&P 500 by a wide margin of 1.95% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.76%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.73% in the last 1 week, and is up 2.34% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Canadian National Railway Company is up 11.75% in the last 3-month period. Year-to-Date the stock performance stands at 17.1%. The stock has recorded a 20-day Moving Average of 2.77% and the 50-Day Moving Average is 6.17%.
Canadian National Railway Company (NYSE:CNI): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $64.41 and $64.24 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $64.98. The buying momentum continued till the end and the stock did not give up its gains. It closed at $64.81, notching a gain of 0.11% for the day. The total traded volume was 723,950 . The stock had closed at $64.74 on the previous day.
Also, Atlantic Equities initiates coverage on Canadian National Railway Company (NYSE:CNI). Atlantic Equities has a Buy rating on the shares. The rating by the firm was issued on August 11, 2016.
Canadian National Railway Company (CN) is engaged in the rail and related transportation business. CNs network and connections to all Class I railroads provide its customers with access to all three North American Free Trade Agreement (NAFTA) nations. CN derives its freight revenue from seven commodity groups representing a portfolio of goods transported between a range of origins and destinations. The Companys network of approximately 20,000 route miles of track spans Canada and mid-America, from the Atlantic and Pacific oceans to the Gulf of Mexico, serving the ports of Vancouver, Prince Rupert (British Columbia), Montreal, Halifax, New Orleans and Mobile (Alabama), and the metropolitan areas of Toronto, Buffalo, Chicago, Detroit, Duluth (Minnesota)/Superior (Wisconsin), Green Bay (Wisconsin), Minneapolis/St. Paul, Memphis, and Jackson (Mississippi), with connections to all points in North America.