CSX (CSX - Get Report) operates as a transportation supplier. Its rail and intermodal businesses provide rail-based transportation services including traditional rail service and the transport of intermodal containers and trailers. This stock is trading up 2.8% at $22.59 in recent trading. Today's Volume: 10.45 million Average Volume: 9.35 million Volume % Change: 52%
Shares of CSX are trending higher today following a positive Barron's mention over the weekend.>>5 Rocket Stocks Ready for Blastoff From a technical perspective, CSX is gapping notably higher here right above its 200-day moving average of $21.25 with above-average volume. This move is quickly pushing shares of CSX within range of triggering a major breakout trade, which will hit if CSX manages to clear some key overhead resistance at $22.67 and then once it takes out more resistance at $23.13 to $23.19 with high volume. Traders should now look for long-biased trades in CSX as long as it's trending above its 200-day at $21.25, and then once it sustains a move or close above those breakout levels with volume that hits near or above 9.35 million shares. If that breakout triggers soon, then CSX will set up to re-test or possibly take out its next major overhead resistance levels at $25 to $26.08.
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