Dec. 11 at 10:43 PM
Actionable Trade Alert for
$CSX:
Market Context:
$CSX is currently trading at
$37.03, showing strong momentum with an RSI of 87.21, indicating overbought conditions. The stock is approaching its 60D high of
$37.28. The moving averages (MA30 at 35.31 and MA50 at 35.56) suggest a bullish trend, but the high RSI signals a potential pullback.
Directional Bias: Given the overbought RSI and proximity to the 60D high, we anticipate a short-term pullback followed by a potential breakout above
$37.28.
Trade Plan:
- Suggested Entry:
$37.03
- Stop Loss:
$35.50 (approximately 4.1% below entry)
- Take Profit Targets:
1. Target 1:
$38.00 (2.6% gain)
2. Target 2:
$39.00 (5.3% gain)
3. Target 3:
$43.00 (16.1% gain)
With the targets set, achieving a 17% ROI or more on the third target aligns with market conditions. Monitor for price action near the targets and adjust accordingly.
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