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Possible Bullish Inside Day Candle Pattern Detected for Csx Corp (NASDAQ:CSX)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Csx Corp (NASDAQ:CSX) based on the price action in the company's shares. Yesterday's price range of $69.32 and $70.68 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Csx Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

CSX Corporation is an international freight transportation company. The Company provides rail, intermodal, domestic container-shipping, barging, and contract logistics services around the world. CSX's rail transportation services are provided principally throughout the eastern United States.

Csx Corp (NASDAQ:CSX) is currently priced 7.3% above its average consensus analyst price target of $65.09. Csx Corp shares should encounter resistance at the 50-day moving average (MA) of $71.24 and support at its 200-day MA of $65.33.

Over the past year, Csx Corp has traded in a range of $48.43 to $76.24 and closed yesterday at $70.21, 45% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has declined 0.3%.

SmarTrend is tracking the current trend status for Csx Corp and will alert subscribers who have CSX in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle csx corp

Ticker(s): CSX