Swing Trade Idea – (CSX) – September 18, 2020
Our bullish trade for Friday, September 18th is CSX (CSX Corp). CSX is part of the Industrial Sector (XLI). XLI has experienced a 3.8% gain in the last month and its 1M trend turned bullish on September 11th.
CSX has recently pulled back to an area of support and bounced higher with strong momentum and both 1M and 6M trends turned bullish on August 4th. With a technical score of 8 (out of 10), CSX is a strong stock that will likely continue higher.
As a stop loss, if CSX were to trade above $76 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We would also consider cutting losses on this options trade if the value of the vertical spread moves below $5.06.
