The bullish DailyPlay we chose for Friday May 5th is CSX Corp (CSX). CSX is part of the Industrial Sector (XLI). Over the last month, XLI has experienced a 2.45% move higher and its 1m and 6m trend has turned bullish on 4/20 and has recently broke above its $66 resistance level.
CSX Corp’s 1m and 6m trends turned bullish on 4/20 and recently broke above its $50 resistance level on high volume which now becomes support. With a technical score of 10 (out of 10), CSX is a strong bullish stock that looks to continue higher.
As a stop loss, if CSX was to trade below $50 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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