American Express has fallen below 1st standard devations from quarterly (66-day) and yearly (264-day) means, thus entering short term downtrend
Price is also trading within 1-st standard deviation from 10-year (520-week) and 5-year (260-week) moving averages, meaning that it is in lateral trend on long term basis
If the short term downtrend holds (price trading...
The American Express Credit Financing Cooperation (American Express Bank, FSB) is in a downtrend but I assume that after wave 5 around 73.43 USD the asset will rise in value some 10.62%. I estimate (calculate) this assumption solely on the chart.
Thanks - and have a nice day.
May retest some S/R levels of 2014 before a new trend or accumulation emerges. Expect some short squeezing and tighten the stops. Stalk the trade and obey your rules.
AXP is breaking some very strong support. Good volume as well. The 200 SMA (the red line) may act as a support. Keep in mind, earnings are around the corner. Could buy a protective call
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...
