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.
Just an idea... AXP is in the middle of a large channel. And I have no trade at this point. I'll look to short at the top or go long at the bottom. ON the daily chart, could be a flag and we could continue higher OR sideways. I think sideways is most likely
Depending on general market conditions, AXP could drop further
Vieira Invests Against Warren Buffett on American Express ahead of crash recommending to double the size of short positions ahead of earnings
1/21/16 Good analysis Leon B. Nice bearish retest gap, clearing pivots. $59 is a decent support. IF AXP breaks through that, bearish on the day trade and on the swing, let it retest and $53 is the next support.
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
May retest some S/R levels of 2014 before a new trend or accumulation emerges. Expect some short squeezing and tighten the stops. Stalk the trade and obey your rules.
AXP is breaking some very strong support. Good volume as well. The 200 SMA (the red line) may act as a support. Keep in mind, earnings are around the corner. Could buy a protective call
AXP attempting to make another try to breakout of the bearish channel or may find resistance again at the top of the bearish channel.
Longer term bullish trade. Buying low, selling high is the plan. Good gap back in 10/13 acting as support.
Bullish Bat formation, support found on trend line. Target prices $88 if breaking, $92