The Greedy Trader Weekly Analysis
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Daily Price vs. Fibonacci:Near 61.8% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 10/18/2024 -
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CSX Corp. (CSX) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend resistance line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARBearish Downside Tasuki Gap CandlestickWilliams' Percentage Range is oversoldMACD bullish divergencePrice is close to the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the CSX Corp. (CSX). During the week, the CSX dropped -0.84 points, or -2.40%, and closed at 34.12 on Friday, October 18, 2024. Weekly volume was 56% above average.

CSX is a member of Industrials Sector. Industrials is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See CSX long-term trend chart]
A long-term downtrend had started on February 23, 2024 at 40.05 and reached 31.74 on June 14, 2024. CSX lost 8.31 points, or 20.75%, in 16 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (32.68) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See CSX medium-term trend chart]
A medium-term uptrend had started on June 14, 2024 at 31.74 and reached 36.19 on October 16, 2024. CSX gained -4.45 points, or -14.02%, in 17 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 32.72 and resistance is at 34.58. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a medium-term trend.

Weekly Technical Indicators: [See CSX weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since September 13, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See CSX short-term trend chart]
A short-term uptrend had started on September 12, 2024 at 32.45 and reached 36.19 on October 16, 2024. CSX gained -3.74 points, or -11.53%, in 34 days. The price is now at the 55.35% retracement level.

Daily Technical Indicators: [See CSX daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Candlestick pattern: [See CSX candlestick chart pattern]
On Friday the chart has formed a Bearish Downside Tasuki Gap Candlestick pattern. This is a rare continuation formation that appears in a strongly downward moving market. The reliability of the Bearish Downside Tasuki Gap pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Downside Tasuki Gap Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.03
Williams' Percentage Range (W%R) 96.40
Strong Oversold
Lane's Stochastic (%D-Slow) 56.92
Greed/Fear Indicator (GFI) 35.83
Moving Average Converg./Diverg. (MACD) 0.17 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.28
Williams' Percentage Range (W%R) 67.20
Lane's Stochastic (%D-Slow) 65.78
Greed/Fear Indicator (GFI) 49.90
Moving Average Converg./Diverg. (MACD) -0.07
Trading Signals
Description Value Chart
Parabolic System 36.16
Upper Bollinger Band 35.58
Weekly Stochastic Crossing 34.92
Monthly Trendline Resistance 34.58
Daily Stochastic Crossing 34.55
20 Day Moving Average 34.33
Price 34.12
50 Day Moving Average 34.02
Lower Bollinger Band 33.13
Monthly Trendline Support 32.72
Quarterly Trendline Support 32.68
Quarterly Trendline Resistance 32.61
Sector and Industry
Description Name Rank
Sector Industrials 8
Industry Railroads 37
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 32.45
Low Date 09/12/2024
High 36.19
High Date 10/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 32.12
Low Date 08/06/2024
High 36.19
High Date 10/16/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Valid
Resistance 34.58
Support 32.72
Low 31.74
Low Date 06/14/2024
High 36.19
High Date 10/16/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 32.61
Support 32.68
High 40.05
High Date 02/23/2024
Low 31.74
Low Date 06/14/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 25.80
Low Date 10/13/2022
High 40.05
High Date 02/23/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.