A technical look at the stock
Canadian National Railway rallied from $92.01 to $149.11 in 2020 , stayed in a horizontal trading range mostly between $130 and $150 and, after a rise to $168.66 in 2021 , settled in another range mostly between $140 and $170 .
The recent move above this range suggests a breakout and the start of an uptrend toward higher targets ; a sustained rise above $172 would confirm it. CNR pulled back toward support near $155 recently, for a good entry level . A rise above $163-164 would suggest the stock is ready to resume the uptrend. Only a sustained decline below $155 would cancel the current upside potential.
A rise above $172 would signal Point & Figure targets of $195 and $210. The large trading ranges support potentially higher targets.
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