Potential short opportunity for AXP againFollowing 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
