CSX Corporation stock downgraded to Buy Candidate
(Updated on Dec 08, 2021)
Buy candidate since 2021-12-02 Gain 3.88% PDF
The CSX Corporation stock price fell by -0.38% on the last day (Wednesday, 8th Dec 2021) from $37.09 to $36.95. During the day the stock fluctuated 1.97% from a day low at $36.57 to a day high of $37.29. The price has been going up and down for this period, and there has been a 1.29% gain for the last 2 weeks. Volume has increased on the last day by 491 thousand 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, 11 million shares were bought and sold for approximately $407.98 million.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 23.95% during the next 3 months and, with a 90% probability hold a price between $43.40 and $46.47 at the end of this 3-month period.
Signals & Forecast
The CSX Corporation stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $35.90 and $35.68. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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, December 07, 2021, and so far it has fallen -0.38%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss
CSX Corporation finds support from accumulated volume at $35.69 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.72 between high and low, or 1.97%. For the last week the stock has had a daily average volatility of 2.46%.
Our recommended stop-loss: $35.87 (-2.92%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 days ago.)
Is CSX Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for CSX Corporation stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.237
Predicted Opening Price for CSX Corporation of Thursday, December 9, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 9, 2021||Current price|
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On Dec 02, 2021 "Morgan Stanley" gave "$22.00 - $26.00" rating for CSX. The price target was set to $35.37+2.7%.
CSX Insider Trading
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