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CSX Corp. (CSX) Elliott Wave technical analysis [Video]

Peter Mathers TradingLounge

CSX Elliott Wave technical analysis – Daily chart

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave {v} of 3.

Direction: Upside in wave {v}.

Details: Expecting continuation higher into wave {v} of 3, with wave {i} equality near $35.

CSX Elliott Wave technical analysis – One-hour chart

Function: Trend.

Mode: Impulsive.

Structure: Motive.

Position: Wave (iv) of {v}.

Direction: Upside in wave (v).

Details: Anticipating one more upward leg in wave (v); potential extension likely as wave (iii) exceeded wave (i).

This analysis provides a technical overview of CSX Corp. (CSX) based on Elliott Wave Theory across two key timeframes.

CSX daily chart – Elliott Wave overview

On the daily chart, CSX continues its upward momentum through wave {v} of 3. This wave is progressing toward the $35 level, aligning with the size of wave {i}. The structure remains impulsive and suggests a strong bullish trend. Wave {v} usually completes the third wave in an Elliott Wave cycle, which is typically the most powerful segment, signaling potential further gains.

CSX one-hour chart – Elliott Wave breakdown

In the 1-hour chart, CSX is currently forming wave (iv) of {v}, likely setting up the final upward move in wave (v). Because wave (iii) extended beyond wave (i), wave (v) could also continue longer than average. This indicates a possibility of additional upside momentum following the short consolidation phase, possibly pushing the stock price past the $35 benchmark.

CSX Corp. (CSX) Elliott Wave technical analysis [Video]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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