CSX Corporation Stock Forecast

Buy or Hold candidate since Nov 19, 2024 Gain 2.02%

The CSX Corporation stock price fell by -1.94% on the last day (Wednesday, 4th Dec 2024) from $36.00 to $35.30. It has now fallen 5 days in a row. During the last trading day the stock fluctuated 3.04% from a day low at $34.89 to a day high of $35.95. The price has fallen in 6 of the last 10 days but is still up by 2.02% over the past 2 weeks. Volume has increased on the last day by 7 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 16 million shares were bought and sold for approximately $566.13 million.

The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $34.90 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 6.55% during the next 3 months and, with a 90% probability hold a price between $37.19 and $40.04 at the end of this 3-month period.

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CSX Signals & Forecast

The CSX Corporation stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $36.30. On a fall, the stock will find some support from the long-term average at approximately $34.92. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, November 26, 2024, and so far it has fallen -3.79%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Wednesday, August 28, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for CSX Corporation stock

CSX Corporation finds support from accumulated volume at $34.93 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.06 (3.04%) between high and low. For the last week, the stock has had daily average volatility of 1.83%.

Our recommended stop-loss: $33.76 (-4.36%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)

Trading Expectations (CSX) For The Upcoming Trading Day Of Thursday 5th

For the upcoming trading day on Thursday, 5th we expect CSX Corporation to open at $35.38, and during the day (based on 14 day Average True Range), to move between $34.55 and $36.05, which gives a possible trading interval of +/-$0.747 (+/-2.12%) up or down from last closing price. If CSX Corporation takes out the full calculated possible swing range there will be an estimated 4.23% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $35.56 (0.74%) than the support at $34.93 (1.05%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is CSX Corporation stock A Buy?

CSX Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.114 Hold/Accumulate Unchanged

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Predicted Fair Opening Price

Predicted fair opening price on December 5, 2024 - $35.38 ( 0.227%).