The Greedy Trader Weekly Analysis
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S&P 500 Overbought Stocks

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- 5/19/2023 -
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CSX Corp. (CSX)

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtTrend resistance at 31.56Trend resistance at 31.91
Daily :Williams' Percentage Range is strongly overboughtLane's Stochastic and MACD bearish divergenceThe price has risen above the Parabolic SAR
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It was a first positive week for the CSX Corp. (CSX). During the week, the CSX gained 0.49 points, or 1.54%, and closed at 32.31 on Friday, May 19, 2023. Weekly volume was -32% below average.

CSX is a member of Industrials Sector. Industrials is the second 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 Falling Channel chart pattern. The price is near the trend resistance line (31.56). 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 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 33.33 on December 13, 2022. CSX gained -7.53 points, or -29.19%, in 8 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (31.91). 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 medium-term trend.

Weekly Technical Indicators: [See CSX weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since April 21, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See CSX short-term trend chart]
A short-term uptrend had started on March 24, 2023 at 27.60 and reached 32.68 on May 19, 2023. CSX gained -5.08 points, or -18.41%, in 56 days. The price is now at the 7.28% retracement level.

Daily Technical Indicators: [See CSX daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

The daily MACD line is above its signal line since March 28, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.67
Williams' Percentage Range (W%R) 4.40
Strong Overbought
Lane's Stochastic (%D-Slow) 72.78
Bearish
Greed/Fear Indicator (GFI) 78.36
Moving Average Converg./Diverg. (MACD) 0.44 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.48
Williams' Percentage Range (W%R) 8.80
Strong Overbought
Lane's Stochastic (%D-Slow) 80.30
Overbought
Greed/Fear Indicator (GFI) 75.28
Moving Average Converg./Diverg. (MACD) -0.23
Trading Signals
Description Value Chart
Upper Bollinger Band 32.74
Price 32.31
Daily Stochastic Crossing 32.31
Quarterly Trendline Resistance 31.91
Weekly Stochastic Crossing 31.77
Yearly Trendline Resistance 31.56
20 Day Moving Average 31.48
Parabolic System 31.42
50 Day Moving Average 30.37
Lower Bollinger Band 30.29
Sector and Industry
Description Name Rank
Sector Industrials 8
Industry Railroads 77
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 29.93
Low Date 04/27/2023
High 32.68
High Date 05/19/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 27.60
Low Date 03/24/2023
High 32.68
High Date 05/19/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 33.33
High Date 12/13/2022
Low 27.60
Low Date 03/24/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 31.91
Support 25.75
Low 25.80
Low Date 10/13/2022
High 33.33
High Date 12/13/2022
Description Value
Direction Down
Chart Pattern Falling Channel
Status Test Resistance
Resistance 31.56
Support 22.46
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.

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