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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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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