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CSX Stock Chart Top Alert: Topping Tail

Shares of CSX Corp (CSX) may be putting in a top yesterday. The reason is pure technical and is known as a topping tail on the daily stock chart. This CSX stock chart top alert is meant to let investors know there may be more risk of downside than upside. Topping tails usually signal exhaustion and distribution by institutions. In other words, the reason a long tail forms on the upper portion of the candle is because big money is selling, driving it to close lower. Based on this, investors can look to short the name. The stop is easy to follow. Any daily close above yesterday’s topping tail high would negate the setup. That is at an approximate price of $97.55. This gives a great risk/reward setup for investors looking to short the name, risking just $1.20 per share while the downside could be easily $10+.

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CSX Stock Chart Top Alert…you can see the topping tail in the stock chart below…