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After Yesterday's Rally of 1.60% Shares Could Potentially Pullback

By James Quinn

CSX (NYSE:CSX) traded in a range yesterday that spanned from a low of $46.21 to a high of $47.44. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $46.80 on volume of 2.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, CSX has traded in a range of $21.33 to $50.31 and is now at $47.07, 121% above that low. 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 67.2%. We continue to monitor CSX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders

Ticker(s): CSX