jangseohee

Potential short opportunity for AXP again

NYSE:AXP   AMERICAN EXPRESS COMPANY
74 0 3
Following up with the sell-off up til 15 Oct, when AXP             make a price lower low, i had posted a bullish divergence on RSI & MACD . My long was triggered at 79 but price dropped to 78.35 before rebounding to 90 at the channel top! Took my profit @ 90.44.

Given that it was a DOJI close on channel top, chances are the price movement has exhausted somehow, though not necessarily mean that i will turn come next Monday. I anticipate some consolidation around the blue region with perhaps more break out

But i am ready to short again for sure. Using a buy put options, i have queued @91, 93, 95 which is subjected to minor changes depending on smaller time frame monitoring
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