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nicktussing77
Feb 2, 2024 6:16 PM

AXP, THE PLATINUM CARD ISN'T ACTUALLY PLATINUM 

American Express CompanyNYSE

Description

Trends and price targets marked.
Things are overextended
Potential to bounce back and catch more upside even with the overextension.
Guideline is more for backtracking, but it could potentially look something like this.
Follow trends and price targets rather than guideline, it is more to get an idea of what things could look like.
247 or so looks like a top to me especially with the trend formation
I would suggest watching a break on the lowest green support trend
and I would also suggest watching a rejection on the rejection trend.
Should we break out of rejection trend, probably 360.
Drop will be steep, but the most natural path would be the 247 drop to 80.
I would say, if you're looking to enter, wait and be patient. If there is more upside, you're not missing much. If downside is coming, there are still trend support lines that can see bounces in price, meaning, you'll likely be able to find a better entry that allows for less risk.

Comment

price at 2 support trends into earnings.
Comments
hess1
you think American Express is going to drop to $80 a share you are incorrect
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