CSX Corporation (CSX)
By Thu, Aug 13, 2020
Hey there,
We’re seeing some great sector rotation going on as money flows out of technology and the NASDAQ and into industrials
Specifically, intro transportation.
The relative strength in the transportation index is solid right now.
There’s lots of opportunities here, but one stock stands out in particular; CSX Corporation (CSX).
Csx has been a favorite for our clients for years now…
Love the liquidity here.
But more importantly, I absolutely LOVE the risk vs reward here.
We are long above $76.
Below $76, we’re just sitting and watching, but above that number, we want to be long, with a price target of $94 as rotation gets into transports.
That’s it for this week.
See you then!
Til next week, good trading,
JC Parets
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About the Author
JC Parets, founder of All Star Charts, specializes in finding the most opportunistic risk vs. reward propositions while at the same time bringing a top/down approach to the marketplace whose wide spectrum is rivaled by few. JC begins with a long-term global macro perspective and then works his way down to the individual sector and industry level before ultimately isolating the stocks that best portray a particular thesis. Price is the most important technical indicator, but JC uses supplements such as Momentum, Relative Strength, and Fibonacci analysis to complete the process.
