Canadian National Railway CNI Investment Report

November 04, 2021, 10:45 am ET, BY Patrick- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This report was produced using AI developed by Stock Traders Daily.  Over the past 20 years this proprietary AI has been refined to help identify the most opportune trading strategies for both individual stocks and the stock markets themselves.  This methodology is also applied to Index options, ETFs, and futures.  The objective of this specific report is to optimize trading in Canadian National Railway (NYSE: CNI) while incorporating prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for CNI change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if CNI is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for CNI too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for CNI

• Buy CNI slightly over 118.71 target n/a stop loss @ 118.37. Details

The technical summary data tells us to buy CNI near 118.71, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 118.37 to protect against excessive loss in case the stock begins to move against the trade. 118.71 is the first level of support below 131.81, and by rule, any test of support is a buy signal. In this case, if support 118.71 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for CNI

• Buy CNI slightly over 137.06, target n/a, Stop Loss @ 136.66 Details

If 137.06 begins to break higher, the technical summary data tells us to buy CNI just slightly over 137.06, with an upside target of n/a. The data also tells us to set a stop loss @ 136.66 in case the stock turns against the trade. 137.06 is the first level of resistance above 131.81, and by rule, any break above resistance is a buy signal. In this case, 137.06, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CNI near 137.06, target 131.67, Stop Loss @ 137.46. Details

The technical summary data is suggesting a short of CNI if it tests 137.06 with a downside target of 131.67. We should have a stop loss in place at 137.46 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 137.06, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for CNI

• Buy CNI slightly over 132.67, target 137.06, Stop Loss @ 132.36 Details

If 132.67 begins to break higher, the technical summary data tells us to buy CNI just slightly over 132.67, with an upside target of 137.06. The data also tells us to set a stop loss @ 132.36 in case the stock turns against the trade. 132.67 is the first level of resistance above 131.81, and by rule, any break above resistance is a buy signal. In this case, 132.67, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CNI near 132.67, target 131.67, Stop Loss @ 132.98. Details

The technical summary data is suggesting a short of CNI if it tests 132.67 with a downside target of 131.67. We should have a stop loss in place at 132.98 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 132.67, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

CNI Ratings for November 04:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Neutral
P1	0	0	105.01
P2	131.66	131.67	111.62
P3	132.67	137.06	118.71

Support and Resistance Plot Chart for CNI

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