$CSX with a neutral outlook following its earnings #StocksThe PEAD projected a neutral outlook for NASDAQ:CSX after a negative under reaction following its earnings release placing the stock in drift D with an expected accuracy of 75%.
CSX trade ideas
CSX is BullishPrice was in a downtrend, however a matured bullish divergence on RSI seems to be playing out on daily time frame. Previous lower high is broken successfully, and if the bulls maintain control over price action, we can expect a bullish rally from here. Targets are mentioned on the chart.
CSX potential Buy setupReasons for bullish bias:
- Price respecting weekly trendline
- Price is at strong horizontal support
- Simple DOW theory
- Safe Entry at LH breakout for bull trend confirmation
- Bullish divergence
Here are the recommended trading levels:
Entry Level(Buy Stop): 34.04
Stop Loss Level: 31.45
Take Profit Level 1: 36.63
Take Profit Level 2: 39.22
Take Profit Level 3: Open
possible buying opportunity appoarchingHey everyone, this stock recently caught my attention, so I decided to take a closer look and see if there's an opportunity here.
Below, I used ChatGPT to give me a quick analysis of the stock and to examine the reasons behind its decline over the past year.
My plan is to buy in (DCA - Options) as we approach a yearly trendline that has stayed intact, aiming for another run-up to test the $38 ATH (all-time high).
CSX stock has faced several challenges over the past year, leading to a decline in its price. Here are some key reasons for this decline:
Financial Performance: CSX reported lower revenues and earnings for the first quarter of 2024. Revenue totaled $3.68 billion, down 1% year-over-year, while operating income decreased by 8% compared to the same period in 2023. Net earnings also fell to $893 million from $987 million in the previous year (CSX.com - Home) (MarketBeat).
Economic Factors: The company's performance has been impacted by broader economic conditions, including lower fuel surcharge revenue, reduced export coal prices, and weaker trucking revenue. These factors have offset gains in merchandise pricing and higher intermodal and coal volumes (CSX.com - Home).
Market Sentiment: CSX's stock has decreased by about 4% since the start of 2024, reflecting a cautious sentiment among investors regarding the company's ability to navigate these challenges (MarketBeat).
Bull Case Scenarios:
Market Position : CSX is a major player in the rail transportation industry, which is essential for the movement of goods across North America. This provides a stable base for its operations.
Growth in Intermodal and Coal Volumes: The company has seen growth in intermodal volume (up 7%) and coal volume (up 2%), which could continue to drive revenue in the future (CSX.com - Home).
Investments in Technology and Infrastructure: CSX has been investing in technology and infrastructure to improve efficiency and service quality, which can enhance profitability in the long run (MarketBeat).
Bear Case Scenarios:
Regulatory and Economic Risks: CSX operates in a highly regulated industry and is vulnerable to economic downturns. Regulatory compliance and economic conditions can pose significant risks to its operations (MarketBeat).
Competitive Pressure: The company faces competition from other transportation providers, which could impact its market share and profitability (MarketBeat).
Operational Risks: CSX's operations are subject to risks such as accidents, natural disasters, and labor disputes, which can disrupt its business (MarketBeat).
Investing in CSX involves weighing these factors and considering how the company's strategic initiatives and market conditions may evolve.
Possible wave tradeI follow a long term trend analysis based on a tutorial published by @TradeWithParas, so naturally I suggest you refer to his idea for a longer term swing. But inside this analysis there should be some wave to wave trades.
Currently I see consolidation between the 50 and 200 moving avgs, a break of the 200 could get pushed to the 34.50 area. As a stop, don't let it get too far away from the 50. If it plays nice, that could be 80 cents or more profit, 12 cents risk roughly at current price.
If it hits 34.50 and bounces down, that would be creating an upside down head and shoulders.
CSX - Buying on potential double bottomCXS Corporation saw a strong bullish rebound yesterday after forming a bullish engulfing candle. Also, the stock has formed a double bottom formation after breaking out of the 3-month downtrend channel. Mid-term stochastic is showing a potential oversold crossover (Pending a break above 20-line) and ROC is rising. Volume supports the rebound. Hence, maintain a buy. Can consider part of the position on 32.35 support.
CSX potential Buy setupReasons for bullish bias:
- Price is at weekly support
- Safe entry at LH breakout(DOW)
- Price respecting strong trendline
- Bullish divergence
- 0.618 Fib level
- Positive Earnings
Here are the recommended trading levels:
Entry Level(Buy Stop): 34.93
Stop Loss Level: 32.80
Take Profit Level 1: 36.93
Take Profit Level 2: 38.26
Take Profit Level 3: Open
CSX, Target ReachedProfit 15% for 46 days
NASDAQ:CSX
The price target is above the closing price, you can hold it even higher....
📈#CSX Catch it if you can!Hey guys, just like yesterday with NYSE:ALK on my previous post, this is a great setup that might take off once the market opens. But you might also have a chance to catch this bullish move.
Currently, there is a clear impulse with a healthy correction shaped like a flag to the 50% retracement level. There also is a lower degree impulse with a correction that is breaking out of the larger degree trend line with bullish structure as confirmation.
📈 #CSX BUY SETUPHey guys, #CSX has completed a bullish pattern for upside.
On the lower degree, it has also created a bullish trend continuation confirmation.
Take profits at target levels and obey your trading rules!
Reduction target 22$According to the Butterfly pattern, the decline at the target of $ 22 perfectly converges. This should happen within a year, there will be a great point for going to long.
CSX Corporation Options Ahead of EarningsAnalyzing the options chain and the chart patterns of CSX Corporation prior to the earnings report this week,
I would consider purchasing the 32.50usd strike price Calls with
an expiration date of 2024-1-19,
for a premium of approximately $0.90.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
Where There is Smoke, There is Fire | CSX Short 🚂Classic short setup for CSX railroad here. It just so happens other railroads are also showing bearish formations with imminent resolution - most likely to the downside - ahead.
Remember: we are at 3.6% unemployment - a rate that has remained historically unsustainable, and elusive if not unattainable - for the last 75 years.
Combining the "large-time-frame" bearish formation of CSX and the current status of the long-run labor market, I think we have a strong case for a weak aggregate demand.
Not to mention, oil has been selling off for a year, despite higher unemployment. So... what gives?
$CSX with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NASDAQ:CSX after a negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 33.33%.
CSX: correction onfulding?A price action below 33.50 supports a bearish trend direction.
Crossing below 33.00 will further confirm the bearish setup.
The target price is set at 32.00.
The stop-loss price is set at 34.50.
Start of downside potential applicable.
A bearish crossover also confirms a change in trend direction.
CSX Predictions Whats NextCSX Buys Norfolk in a Merger. Wait For it! Boom
Let`s keep this under our hats. Only you and I know this right now. We will be discussing more future trends soon. Happy Trading.
CSX Huge Put buy into the close CSX appeared to close strong into the close but in reality, it closed under resistance and someone recognized how cheap the option is for a pullback and went long puts at a decent size. You see can from the strike history image I posted in the chart that the 11/18 30.50 put strike has been relatively quiet until today. 30.50 CSX puts could be a banger play for tomorrow!
$CSX with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $CSX after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 66.67%.
CSX Earnings New MGTWe may see increased earnings under the new MGT. We are looking at a Possible Strong Buy Signal in the morning. No turkey stamp of approval.
CSX Potential LongLow IV, still disconnected analyst ratings and earnings not until near the end of the month. Why not?
