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CSX CorporationCC

CSX Corporation

32.12USDR
−0.44−1.35%
Last update at Jun 17, 23:59 GMT
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CSX trade ideas

Is CSX Ready to Start Rolling?Railroad operator CSX has squeezed into a tight range for almost five months. Now it may be ready for a breakout. The first pattern jumping off the chart is the ascending triangle with resistance around $95. Prices just started to escape the top yesterday. Also notice how the lows on January 27, March 4 and March 19 were followed by “kicker” candlestick patterns. Those snapbacks show buyers didn’t let the stock remain down for long. Next, Bollinger Band Width has tightened during this time, creating the potential for expansion if CSX starts running. Third, prices have recently consolidated above the 8-day exponential moving average (EMA), the 21-day EMA and the 50-day simple moving average (SMA). Finally, MACD has just turned positive. In addition to those technicals, CSX is a transportation stock: the type of cyclical company that can benefit as economy recovers from the pandemic. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview ​for more.
NLong
by TradeStation
1
CSX breakout above 50day SMACSX is back above the 50 day moving average and should be gaining momentum in near future. With call options, I'm lookin for the stock go back to all time highs. Tech info: RSI is above 50 and is trending higher (this is really good) The stock has been trading sideways and down for a long period of time approximately 3 months which improves this trading probability. Lastly, the has good momenetum (above 20 ema, 85 ema, and above 50 sma. I am long calls on CSX.
NLong
by TickTackTrades
Cup and Handle Ascending TriangleLarge effective volume yesterday/meaning large players were buying this and there was also a pocket pivot I have noticed that large players are not always super careful with entry..lol. Afterall, it is not always their money that they are spending. Effective Volume analyses the intraday volume on the minute level to determine what small and large players are doing in terms of accumulation and distribution. For using the indicator you should basically understand: if the red line goes up, large players are buying on average, if it goes down, they are selling. The idea here is that you only want to buy the stock when it actually starts to rise and when it arrives above the breakout level. It is very well possible that the stock never reaches this level. It is also possible that the stock only reaches this level next week. Both cases make sure you only enter the stock when the actual breakout happens. If it doesn't happen you have prevented a loss by never entering the stock. If you are a pull back trader or a bottom fisher, then these patterns may not be ideal for you. I love to bottom fish as well (o: C&H patterns are only valid at long entry level. There is also an ascending triangle and a rising wedge. CSX took a small dip down through lower trendline of RW. Rising wedges can be bearish. Possible T2 116.75 to 125 Ascending triangles do fail, or bust like all other patterns do. The top trendline is R so it may not be easy to get through it But if it does, it can become support (S) To break an A triangle it must do so with confirmation and in an uptrend Maybe just keep that in mind with this onecause the Ascending triangle is right there close to entry level. It’s not about being right, but doing the right things when you are. Success isn’t in picking the stock but in how it is played once you own it. When to buy more and when to sell is far more important than knowing what to buy. One good trade can be a life changer. Not a recommendation
NLong
by lauralea