Financial stocks have been pretty weak a while now with a few exceptions, AXP being one of the more resilient ones.
It has been testing a trendline support for the 4th time in the past 4.5 months and looking like a breakdown is near (in line with the overall bearish sentiment in financial stocks).
Should a close below 158 occur (ie breakdown), then the longer term target could be 132 or even 115. Howver targets are just a guide and may not may not happen. profit profits with trailing stops.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important. Take care and Good Luck!
It has been testing a trendline support for the 4th time in the past 4.5 months and looking like a breakdown is near (in line with the overall bearish sentiment in financial stocks).
Should a close below 158 occur (ie breakdown), then the longer term target could be 132 or even 115. Howver targets are just a guide and may not may not happen. profit profits with trailing stops.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important. Take care and Good Luck!