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Downtrend ResistanceArchive
- 8/30/2024 -
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CSX Corp. (CSX) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a second positive week after 4 consecutive negative weeks for the CSX Corp. (CSX). During the week, the CSX gained 0.58 points, or 1.72%, and closed at 34.27 on Friday, August 30, 2024. Weekly volume was -34% below average.
 Long-term trend: [See CSX long-term trend chart]
A long-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. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Medium-term trend: [See CSX medium-term trend chart]
A medium-term downtrend had started on February 23, 2024 at 40.05 and reached 31.74 on June 14, 2024. CSX lost 8.31 points, or 20.75%, in 16 weeks. The price is now at the 30.45% retracement level.
 Weekly Technical Indicators: [See CSX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 5, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 July 16, 2024 at 35.63 and reached 32.12 on August 6, 2024. CSX lost 3.51 points, or 9.85%, in 21 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 29.94 and resistance is at 35.06. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See CSX daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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.
During the last week, the price has moved above 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.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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