Gareth Soloway
InTheMoneyStocks
Wednesday, July 18, 2018
Short Trade: CSX Corp $CSX Hits Major Resistance On Earnings Pop
Shares of transportation company CSX Corp (CSX) jumped over 6% on earnings. However, the move took the stock into an upper-band trend line which has continued to cause pullbacks through the last few years. This implies this upside move in CSX Corp will be short lived and swing traders may actually want to short the stock here at $68.75. The downside target calculation signals a move to $60.00 in the coming months.
