Afternoon trading April 8, page-165

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