CSX Corporation (CSX) Technical Analysis and Chart Patterns

CSX Corporation (NASDAQ:CSX) fell by -2.27% in Tuesday’s trading session from $51.60 to $50.43 and has now fallen 3 consecutive sessions. The price has fallen in 6 of the last 10 days and is down by -7.01% over the same course of time. Volume has increased in Tuesday’s trading session by 0.93 million shares, but on a weak note. This is may be an early warning and the risk will be increased slightly for the next couple of days. In total, 7.19 M shares exchanged hands for about $362.50 million.

Inside CSX’s Recent Trend

CSX Corporation (CSX) has broken the weak rising short-term trend down. This signalize a slower rising rate, but may also be an early warning about a possible trend shift. Due to trend being broken there will now be resistance at the bottom line of the trend at $52.01. A reaction back to this level may hold a second chance to get out before further falls.

CSX Corporation Technical Signals

CSX has witnessed its long term and short term MA triggering a sell signal. Many traders watch for long-term averages to cross above short-term averages to signal the beginning of a downtrend. Upon corrections, the price will meet resistance from the averages between $52.61 and $52.90. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Friday October 20, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. Volume up and price depreciating is getting our attention as this movement is seen as bearish sign.

CSX Corporation (NASDAQ:CSX) Support And Resistance Levels

CSX Corporation (CSX) recorded volume accumulation so there will probably be a surplus of buyers at $50.21. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $52.35, $53.58 and $54.23.

Accumulated volume is going to prevent the price from rising further at $52.35 and this action will lead the price to take a temporary pause or stay muted for a few days.

CSX Corporation (CSX) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $1.21 (2.40%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 3.20%.

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