More Downside Ahead For CSX (CSX)

CSX Corporation CSX is off 98 cents today, and there appears to be more downside ahead, given the negative tone of the market in recent trading days. The nearest level of support is the 50 day moving average, which is $59.64. Traders would be wise to avoid initiating a position until this level is reached. Should that level fall, $58.03 is the next area of support for shares of the railroad operator.