CSX Elliott Wave Analysis – Trading Lounge Daily Chart
CSX Corp. (CSX) – Daily Chart Analysis
CSX Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave 3 of (1)
Direction: Upside in Wave 3
Details: A key support base seems to have formed at the April low. Current price action displays a clear impulsive rally, reducing the probability of previously anticipated bearish patterns.
Daily Chart Analysis
The Elliott Wave outlook for CSX Corporation highlights a bullish trend, with the stock confirming a reversal at the April lows. The ongoing rise is categorized as an impulsive Wave 3, a typically strong bullish leg. This momentum suggests a continuation of the uptrend, supporting a positive forecast for further price advances.
CSX Elliott Wave Analysis – Trading Lounge 1-hour Chart
CSX Corp. (CSX) – 1H Chart Analysis
CSX Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave (v) of {iii}
Direction: Upside in Wave (v)
Details: CSX is approaching a potential peak in Wave (v), with a minor correction likely in Wave {iv} before the uptrend resumes. Price could target the $50 mark post-pullback.
CSX 1-Hour Chart Analysis
Short-term Elliott Wave analysis for CSX shows the stock nearing the end of Wave (v) of Minute Wave {iii}. This setup signals a forthcoming correction via Wave {iv}, aligning with the broader bullish trend. Once this corrective move concludes, the next bullish phase could drive prices toward the $50 level, reinforcing the existing upward momentum.
Technical Analyst: Alessio Barretta
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