AXP missed on earnings and revenue Thu 18th, but only dropped 0.28%. However, their 'miss' was doubling profit from $2.75B to $6.92B. Because it is regarded as banking, the stock trades at a PE of 13.5 compared to 30 for Mastercard and Visa.
It was up 1.95% pre-earning on double normal volume. Tefchnicals show a cup and handle and a golden cross (50MA>200MA).
Allow a little pullback on Monday, and BUY 112.50, SL 107.75 TP 130. RR 3.68. The SL is below the 'B' point, and I have projected A-B = B-C to a price target of $130. Broker PTs average $120, can always take some off there.
AXP is a Dow component.
It was up 1.95% pre-earning on double normal volume. Tefchnicals show a cup and handle and a golden cross (50MA>200MA).
Allow a little pullback on Monday, and BUY 112.50, SL 107.75 TP 130. RR 3.68. The SL is below the 'B' point, and I have projected A-B = B-C to a price target of $130. Broker PTs average $120, can always take some off there.
AXP is a Dow component.
Comment:
Trade doing well, 6% up. Moving stop to breakeven
Trade closed: target reached:
Trade finally hit target on 17 Jan, 9 months later.
David Atherton