Shares of Canadian National Railway Company (CNI) Sees Large Outflow of Money

Canadian National Railway Company (CNI) : The value of composite uptick trades was $0.28 million, whereas, the value of composite downtick trades was $0.88 million. The uptick to downtick ratio stood at 0.32 with a negative money flow of ($0.6) Million during Wednesdays trading session. The block trades money flow was negative ($0.71 million). The transaction of the trades on downticks amounted to $0.71 million, which confirms investors selling on the strength of price. Canadian National Railway Company (CNI) gained 18 cents at $62.76, an increase of 0.29% over the previous days close.


Also, Argus Research initiates coverage on Canadian National Railway Company (NYSE:CNI). Argus Research has a Buy rating on the shares. Previously, the analysts had a Neutral rating on the shares. As per the latest report, the brokerage house announces the price target to $73 per share. The rating by the firm was issued on June 21, 2016.

Canadian National Railway Company (NYSE:CNI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $62.43 and $62.35 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $63.77. The buying momentum continued till the end and the stock did not give up its gains. It closed at $63.63, notching a gain of 1.68% for the day. The total traded volume was 1,184,743 . The stock had closed at $62.58 on the previous day.

The stock has recorded a 20-day Moving Average of 6.52% and the 50-Day Moving Average is 7.39%.

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.

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