CSX Corp Elliott Wave Technical Analysis September 16 2022

Elliott Wave Analyst - tradinglounge • Sep 16, 2022 at 5:15 AM EDT

Looking for an overall continuation lower, with a potential top in place for wave B.

CSX Corp.,(CSX): Daily Chart, September 16 2022,
CSX Stock Market Analysis: Looking for an overall continuation lower, with a potential top in place for wave B.

CSX Elliott Wave count: {iii} of C.
CSX Trading Strategy: Start building shorts with a stop below wave B.

CSX Technical Indicators: We are below all averages which support the bearish scenario.

(Click on image to enlarge)

CSX Corp., HON: 4-hour Chart, September 16 2022

CSX Corp., Elliott Wave Technical Analysis
CSX Stock Market Analysis: Looking for further downside to unfold fairly quickly. If we are in wave (iii) of {iii} then we should see a quick move down.

CSX Elliott Wave count: (iii) of {iii}.

CSX Technical Indicators: Below all averages as well as we already went past the volume point of control.

CSX Trading Strategy: Slowly building shorts, an aggressive stop would be below wave {ii}.

(Click on image to enlarge)

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