TMCNet:  CSX (CSX) Crosses Pivot Point Resistance at $20.65

[January 04, 2013]

CSX (CSX) Crosses Pivot Point Resistance at $20.65

Jan 04, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of CSX (NYSE:CSX) opened today above their pivot of $20.38 and have already reached the first level of resistance at $20.65. Should the shares continue to rise, the resistance pivots of $20.94 and $21.50 will be of interest.


Potential upside of 16.8% exists for CSX, based on a current level of $20.82 and analysts' average consensus price target of $24.32. The stock should hit resistance at its 200-day moving average (MA) of $21.49, as well as support at its 50-day MA of $20.04.

CSX share prices have moved between a 52-week high of $23.71 and a 52-week low of $18.88 and are now trading 10% above that low price at $20.82 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of CSX on September 4th, 2012 by issuing a Downtrend alert when the shares were trading at $21.94. Since that call, shares of CSX have fallen 7.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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