TradingView
Juliac
May 12, 2022 10:08 AM

AXP - could break support soon Short

American Express CompanyNYSE

Description

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!
More