I'm not sure that waiting is a good strategy in this situation for a number of good reasons 1 If anyone is going to buy this stock the time to do so is now on a technical chart basis because the best risk/reward is always at the bottom of the supply demand curve. Waiting as suggested here will result in two things for buyers less reward and increasing risk to each trade. 2 The chart is a selling stampede and a picture of irrational panic from people with an itchy sell button finger. 3 Waiting for price to go up defies the buy at wholesale price add a profit margin and sell at retail price scenario which is open to traders when the market opens on Tuesday. 4 CSX Directors do not seem to agree that their figures are not as strong as they were before the panic set in. They point to the selling being sparked by increased injections to give people to give some level of immunity to Covid 19 being given throughout the US since Biden became POTUS. 5 The best buying points are always when a share is surrounded by faux bad news and panic selling is evident on the chart. . The best selling points are always when good news abounds and bullish exuberance is evident in the chart. 6. I doubt whether fundamental analysis caused this panic and I doubt whether fundamental analysis will have any influence on the share price recovery in the short term. The whole thing reeks of a *** being held up and people running for the exits with no rational reason being offered as to why they should respond in that manner. 7 In this instance I believe the CSX board https://services.choruscall.com/mediaframe/webcast.html?webcastid=hDWFavEh
8 On the CSX 189 weekly chart, price is at the bottom of the trendline and the smart thing to do here is begin looking for reasons to buy over the long Easter weekend and be prepared for the Tuesday opening. Buying the first green candles after pullbacks on intraday charts improves the risk/ reward for traders but the weekly chart is buying opportunity for mine.
