Nov. 14 at 3:04 AM
$CSX: The last close at
$34.88 indicates a position near the lower end of the recent trading range, with a 60D high of
$37.21 and a low of
$31.8. The RSI at 33.93 suggests that the stock is approaching oversold conditions, which may indicate a potential reversal or bounce. However, the MA30 at
$35.76 is above the current price, indicating a bearish short-term trend, while the MA50 at
$34.84 is very close to the last close, suggesting potential support.
Directional bias leans slightly bullish due to the oversold RSI, but caution is warranted given the proximity of moving averages. Suggested entry is at
$35.00, just above the MA50. Set a stop at
$34.50 to limit potential losses. Target 1 is
$36.00 (near MA30), and Target 2 is
$36.50 (mid-range of the 60D high-low). Monitor for confirmation before entering.
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