• Return to Headlines

CSX Rises 6.80% on Heavy Volume: Watch For Potential Pullback

By Shiri Gupta

CSX (NYSE:CSX) traded in a range yesterday that spanned from a low of $49.60 to a high of $51.28. Yesterday, the shares gained 6.8%, which took the trading range above the 3-day high of $47.34 on volume of 16.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, CSX share prices have been bracketed by a low of $21.33 and a high of $51.28 and are now at $50.08, 135% above that low price. Over the last five market days, 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 69.9%. 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