CSX - CSX Corporation Stock Chugs Along Great For Trading Sideways Investment The Last Few Years
2024-04-18 11:00:58 ET
Summary
- CSX Corporation stock is expected to continue trading sideways with little upside potential in the near-term.
- Q1 revenue was flat year-over-year, with merchandise volumes and coal revenue remaining flat as well.
- Expenses rose despite relatively flat volumes, leading to a decrease in operating income and earnings growth.
- There are trading approaches that work, but CSX Corporation stock has been range bound for several years.
CSX Corporation ( CSX ) stock has been chugging along and trades within a pretty well-defined range. As the market pushed to all-time highs in Q1, CSX broke out of that range for a short time; however, the stock has corrected, and we think it will continue to trade sideways. Astute traders can take advantage of both long and short positions here, or embrace a buy-write options approach for income....
CSX Corporation Stock Chugs Along, Great For Trading, Sideways Investment The Last Few Years