Chip Away
Fundamentally, it is not a bad stock to own. It is on the lower side of Price/Earnings spectrum compared to other American railroads. Debt Levels are kind of concerning, but they did mention cutting costs and headcount during their recent earnings call, which will help them take care of that. Also, should the US, Mexico, and Canada ratify the new NAFTA, railroad companies in general will see a major boost.
On a technical note, the price does seem to be rising above its 50 and 20 Day MA, with an RSI of 54, with a Fibonacci support level at about 160. Chipping away at this level is not a bad move, but it will come down to how the trade agenda plays out.
On a technical note, the price does seem to be rising above its 50 and 20 Day MA, with an RSI of 54, with a Fibonacci support level at about 160. Chipping away at this level is not a bad move, but it will come down to how the trade agenda plays out.
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