If CSX opens a bit below 32.71 consider using the Retest Gap strategy. Watch out for potential support at 31.59 To learn to trade this strategy for free go to www.RealLifeTrading.com
Entry above all EMA's and long term SMA's. Interesting double bottom
Did not fail the retest, making hh/hl good volume and candles.
CSX has been on our recent bullish watchlist and today seems to be testing resistance. With the recent better than expected earnings, a gap up today, an uptrend already in place and with price dealing above all the major moving averages, this looks to be setting up for a buy. Price is also making fresh 52 week highs which we like to see for good trend continuations.
Unusual Options activity indicates that a large move in an asset is coming. The OptionsFlash Scanner (www.optionsflash.com) got this trade when indicated and we have noticed big gains.