AXP strong support likely to hold with a lack of volume
Previous resistance has quite clearly become support as shown by the purple box.
It is always possible for support to break however the lack of volume over the past few days is an indication that large holders of AXP are sitting on their hands. In order to break such a serious support level sellers will clearly have to step up their game as volume has been hovering slightly below the 20 day average.
Until we see some conviction from the bears we should assume support will hold and thus AXP is a buy.
It is always possible for support to break however the lack of volume over the past few days is an indication that large holders of AXP are sitting on their hands. In order to break such a serious support level sellers will clearly have to step up their game as volume has been hovering slightly below the 20 day average.
Until we see some conviction from the bears we should assume support will hold and thus AXP is a buy.