Union Pacific Gets Highball Signal

Union Pacific (UNP) was last in the roundhouse at the end of April, when I wrote that, "This is an interesting juncture for a technical analyst. We have a weak looking daily bar chart and a bearish Point and Figure chart, yet our weekly bar chart is overall positive. The best course of action for me is to wait for a strong close above $140 looking for gains to the $160-$165 area." UNP has closed above $140 for our buy signal so let's check the charts again to keep us on track.

In this daily bar chart of UNP, below, we can see how prices have closed above the highs of February, March and April. The slope of the 50-day moving average line is positive and the longer-dated 200-day average line is bullish. The daily On-Balance-Volume (OBV) line has been trending higher the past twelve months and tells us that buyers of UNP have been more aggressive. The Moving Average Convergence Divergence (MACD) oscillator has turned up with the price action and is giving us an outright go long signal....111 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.