Caution is warranted for bulls, as the rebound in AXP has taken price almost to its first major target. Earnings were a positive surprise, but - as with all financials - we still have to watch if this is real buying or just a counter-trend rally.
Depending on the general market, further recovery in AXP off support at 52.00 USD could take it back to 65.00 and 67.43. Should we see declines in Indices I expect a sideways price behaviour in AXP, but as long as 52.00 USD holds I will be cautiously bullish.
Depending on general market conditions, AXP could drop further
American Express has fallen below 1st standard devations from quarterly (66-day) and yearly (264-day) means, thus entering short term downtrend Price is also trading within 1-st standard deviation from 10-year (520-week) and 5-year (260-week) moving averages, meaning that it is in lateral trend on long term basis If the short term downtrend holds (price trading...
AXP is below all moving averages of any significance
Longer term bullish trade. Buying low, selling high is the plan. Good gap back in 10/13 acting as support.
With the S&P trending up and at weekly demand and AXP basically mirroring it, having pulled back to an objective level of weekly demand from the pivot low in mid oct 2014 where price rocketed off. I am hoping that there will be some unfilled buy orders or a large enough supply/demand imbalance to push price higher. My entry on this trade will be a tick above...