The Greedy Trader Weekly Analysis
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S&P 500 Oversold Stocks

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- 3/15/2024 -
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CSX Corp. (CSX) Technical Analysis

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Summary:
Weekly :Overbought sectorStochastic signal line moved below overbought areaBroken trend resistance lineBroken trend resistance line
Daily :Williams' Percentage Range is oversoldTrend resistance at 36.96The price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the CSX Corp. (CSX). During the week, the CSX dropped -1.22 points, or -3.19%, and closed at 36.97 on Friday, March 15, 2024. It was the worst weekly loss since October 27, 2023. CSX was trading at average weekly trading volume.

CSX is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See CSX long-term trend chart]
A long-term downtrend had started on May 10, 2021 at 104.87 and reached 25.80 on October 13, 2022. CSX lost 79.07 points, or 75.40%, in 74 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (29.35) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See CSX medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 25.80 and reached 40.05 on February 23, 2024. CSX gained -14.25 points, or -55.23%, in 71 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (29.25) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See CSX weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See CSX short-term trend chart]
A short-term downtrend had started on February 23, 2024 at 40.05 and reached 36.70 on March 14, 2024. CSX lost 3.35 points, or 8.36%, in 20 days. The chart has formed a Falling Wedge chart pattern. The price is near the trend resistance line (36.96). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.

Daily Technical Indicators: [See CSX daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since March 5, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 30.79
Williams' Percentage Range (W%R) 81.40
Oversold
Lane's Stochastic (%D-Slow) 23.57
Greed/Fear Indicator (GFI) 24.33
Moving Average Converg./Diverg. (MACD) 0.49
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.74
Williams' Percentage Range (W%R) 26.60
Lane's Stochastic (%D-Slow) 75.68
Greed/Fear Indicator (GFI) 69.75
Moving Average Converg./Diverg. (MACD) 1.25
Trading Signals
Description Value Chart
Upper Bollinger Band 38.55
Weekly Stochastic Crossing 38.22
Parabolic System 37.91
20 Day Moving Average 37.77
Daily Stochastic Crossing 37.04
Price 36.97
Weekly Trendline Resistance 36.96
Weekly Trendline Support 36.60
Lower Bollinger Band 36.48
50 Day Moving Average 36.46
Quarterly Trendline Resistance 35.74
Yearly Trendline Resistance 30.93
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Railroads 92
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 36.70
Low Date 03/14/2024
High 37.37
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Test Resistance
Resistance 36.96
Support 36.60
High 40.05
High Date 02/23/2024
Low 36.70
Low Date 03/14/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 29.03
Low Date 10/27/2023
High 40.05
High Date 02/23/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 35.74
Support 29.25
Low 25.80
Low Date 10/13/2022
High 40.05
High Date 02/23/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 30.93
Support 29.35
High 104.87
High Date 05/10/2021
Low 25.80
Low Date 10/13/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.