The Bull Steams In Ahead of CNI’s Earnings Report

csfx-trade-ideaCanadian National Railway Co. (CNI) today is scheduled to report its earnings for the first quarter in 2016. This company’s EPS is expected to inch down a little to $0.68, compared with $0.7 in the same period last year. On the hourly chart, the stock has dived into the overbought territory as indicated by the stochastic. The %K line just reversed and is about to cross the %D line. The price is anticipated to witness a correction and test the support of 64.03.

Trade suggestion

Sell at 65.47, Stop loss at 65.93, Take profit at 64.03

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