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Bullish Moving Average Cross by CSX (CSX)

By James Quinn

Today, shares of CSX (NYSE:CSX) have crossed bullishly above their 10-day moving average of $53.47 on a volume of 1.2 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, CSX share prices have been bracketed by a low of $21.33 and a high of $55.06 and are now at $53.61, 151% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of CSX on July 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.63. Since that recommendation, shares of CSX have risen 90.9%. We continue to monitor CSX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses

Ticker(s): CSX