Clear Tracks Ahead For CSX

CSX (CSX) was reviewed last month, and I recommended that, "Aggressive traders could go long CSX here and on strength above $62 looking for gains to the mid-$70's. Risk below $56 for now." Prices have continued chug higher. Let's check the charts and indicators again to make sure we remain on track.

In this daily bar chart of CSX below, we can see that CSX rallied above $62 earlier this month so traders should have increased their long exposure. The rally looks to be in good shape with prices above the rising 50-day moving average line and the positively sloped 200-day moving average line. The On-Balance-Volume (OBV) line remains pointed up and continues to tell us that buyers of CSX have been more aggressive than the sellers. The trend-following Moving Average Convergence Divergence (MACD) oscillator is in a positive configuration....114 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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