This Railroad Giant Is Breaking Down

 | Sep 13, 2018 02:31PM ET

CSX Corporation (NASDAQ:CSX) is getting hit from a bear-flag formation. This signals a sharp leg lower on the stock, culminating with a target of $64.50. A bear flag is a classic technical setup and forms following a reversal candle off all-time highs, which then leads to the next leg lower. See it in the chart below.