CSX
This is not a day trading proposition, at this point in time, in my opinion.
- Listed at $4.41
- Closed on 1st day of trading at $7.42 and has only briefly reached that pinnacle since.
- In fact, it has been on a steady and painful decline since until last week's complete capitulation., after an uninspiring announcement.
- Top 20% own 66.77 % of shares (51,426,502 of 77,019,523 SOI).
For a trade I would be suggesting looking for a true validation that its is moving north and this would be confirmed by such factors as
- Increased volume,
- A number of appropriate green candle days,
- Appropriate up turns in such indicators as RSI, MACD, BB, etc
The charts at present really do tell a story.
Yearly chart
https://www.tradingview.com/x/asrphSul/
5 day chart
https://www.tradingview.com/x/1Jhcp1fG/
V
This is not advice - purely some comments
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- Afternoon trading April 8
Afternoon trading April 8, page-165
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