• Return to Headlines

Watch for CSX to Potentially Pullback After Gaining 6.80% Yesterday

By Amy Schwartz

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.

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.

Over the past year, CSX has traded in a range of $21.33 to $51.28 and is now at $50.08, 135% above that low. 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%.

Keywords: rebounders

Ticker(s): CSX