Quick Win By The Algorithm

On December 15, 2016, the I Know First algorithm had predicted a bullish forecast for CSX Corporation. (CSX). CSX had a signal of 106.83 and a predictability of 0.64. Therefore, in accordance with the Quick Win By the Algorithm, the company reported gain of 32.44% in just 3 months.

CSX Corporation, (CSX), together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers.

On January 17, 2017, CSX Corporation Inc. announced their fourth quarter earnings. The transportation company faced the obstacle of low commodity prices, this includes a 21% decline in the coal business which is equivalent to a loss in revenue for CSX of $470 million.

Though, no more than two days later, CSX spiked up 23.4% as the S&P 500 fell 0.4%. Hunter Harrison, CEO of one of CSX’s biggest competitors, Canadian Pacific (CP), has renounced his position in the company, and is now the CEO of CSX Corporation. After this news broke out, CSX’s market value increased by $6.8 billion, implying the positive turnout CSX could generate with the addition of the CEO. Hunter Harrison has been known to transform slow railroads into leaders and been the reason for major mergers within Canadian Pacific Railway Ltd.

On February 8th, 2017, the Board of Directors of CSX Corporation agreed on an $0.18 per share quarterly dividend on the company’s common stock. The dividend is payable on March 15, 2017, to shareholders of record at the close of business on February 28, 2017.

This bullish forecast on CSX was sent to current I Know First subscribers on December 15, 2016. 

Before making any trading decisions, consult the latest forecast as the algorithm constantly updates predictions daily. While the algorithm can be used for intra-day trading the predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.

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