$AXP - fake breakout or recharge?
I typically never look at stocks that have a huge run up and seem over extended on the 1 day chart.
But, the 4 hour chart clearly shows a reversal from being oversold with momentum and all key indicators pointing towards a move up.
Due to the big wick on Friday, the fib channel has opened a pathway to $260.
Unusual options activity at $260 strike price as well for august.... seems a bit premature but the range is evident and the last 3 candles on the 4 hour chart show it wants to move.
This is interesting for me as it goes for, and against, what I look for in a price target.
Then I realize, I'm against it based on feeling/judgement. The indicators point towards $260, or at least $250-$260 range.
Not trade advice.
But, the 4 hour chart clearly shows a reversal from being oversold with momentum and all key indicators pointing towards a move up.
Due to the big wick on Friday, the fib channel has opened a pathway to $260.
Unusual options activity at $260 strike price as well for august.... seems a bit premature but the range is evident and the last 3 candles on the 4 hour chart show it wants to move.
This is interesting for me as it goes for, and against, what I look for in a price target.
Then I realize, I'm against it based on feeling/judgement. The indicators point towards $260, or at least $250-$260 range.
Not trade advice.
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