- 11/24/2023 -
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CSX Corp. (CSX) Technical Analysis
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|It was a fourth consecutive positive week for the CSX Corp. (CSX). During the week, the CSX gained 1.02 points, or 3.23%, and closed at 32.64 on Friday, November 24, 2023. Weekly volume was -8% 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 Rectangle chart pattern. The trend support level is at 25.79 and resistance is at 33.38. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle pattern 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 34.38 on July 3, 2023. CSX gained -8.58 points, or -33.26%, in 37 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 30.34 and resistance is at 35.15. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See CSX weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 October 27, 2023 at 29.03 and reached 32.64 on November 24, 2023. CSX gained -3.61 points, or -12.44%, in 28 days. Price is near the trend high.
Daily Technical Indicators: [See CSX daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. 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, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is above its signal line since November 3, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.