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  • Railroad Stocks Head South Fast, Watch This 0 comments
    Jul 10, 2013 4:06 PM | about stocks: KSU

    One of the strongest group of equities has been the railroad stocks. This important transportation group lead the markets higher until May 21, 2013, when the railroad stocks topped out. One of the leading railroad stocks in the industry group is Kansas City Southern (NYSE:KSU). Today, this stock is trading lower by $3.16 to $111.79 a share. Swing traders should watch for daily chart support around the $105.50 level. This was an area where the institutional money defended the stock on June 28, 2013, therefore, support around that level must be expected. There will also be more daily chart support around the $100.00 level.

    Some of the other leading railroad stocks trading lower today include Union Pacific Corporation (NYSE:UNP), Norfolk Southern Corp. (NYSE:NSC), Genesee & Wyoming Inc (NYSE:GWR), and CSX Corporation (NYSE:CSX). Traders and investors should also keep a close eye on the possible approval of the Keystone Pipeline which can transport oil and gas from Canada to Mexico. Last week, there was a deadly explosion of a Canadian freight train in Quebec, Canada. Oil pipelines transport oil much more safely than trains and ships according to most experts. Any pipeline approval will most likely hurt the share price of the railroad stocks. Watch this sector closely, there is some exciting action setting up.

    Nick Santiago

    (click to enlarge)

    Stocks: KSU
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