1) In an Uptrend - higher highs and higher lows - since early May (along with broader market) but more importantly has done so in the face of downward pressure on banks/financials
2) Retraced 38% of entire move up from May lows. Potentially has a bit further down to 50-61% retracement area before next wave up
3) Longer-term Parabola structure (on weekly chart)...
The American Express ($AXP) Main Trend is absolutely bullish, therefore we currently consider all descents as simple corrective structures of the trend in play. But why am I saying that? Because when you decide to take a position not following the trend, the risk is high, so logic tells us to use a smaller size, at least initially (...there's always time to...
As you see on the chart we have the breakout of vwap and also the breakout of the resistance line so it's mean that we will have a big probability to have an uptrend.Thanks!
Amex reported lower-than-expected 1Q earnings, but reading the report, it expects full-year earnings to grow between 10 and 15%. Historically the stock has moved above the indicated moving averages, only during the covid and this increase in interest rates has pushed to lower levels. My forecasts for the year 2023 are a trading range between 128 and 187 dollars,...
Earnings tomorrow before market opens.
Price is below the .236 and above the .382 of the trend up.
ABC/D pattern that could fail if there is an earnings miss. Analysts appear mixed on earnings results.
Possible stop under C. Target is D.
No recommendation.
$AXP
This ticker popped up on my screener set based on strength.
As long price is above the swing high point created by the first low in a double bottom, target is $211.
No trade at the moment as I wait for potential pullback to 165/166 zone.
Noticeable pattern: double bottom
Why buy American express?
1 - because I said so
2 - It's an American Bank who respects Julius Caesar more then Canadian banks
3 - It's on a clear uptrend
4 - ask Chat GPT to dumb down for you the theory of reflexivity by George no Soros
5 - I said so
6 - the price is holding above the 23.6% Fibonacci (God's math) retracement level
7 - because I said so
8 - it's...
RULES:
-If price break Point 2, 4, 6, or 8 cancel the setup
-Price needs to break Point 1, 3, 5, or 7 to confirm the setup
When price reach the 100FE(BLUE BOX) it normally does a pullback/retest or reversal
The market can Truncate(fall short)
The PEAD projected a Bullish outlook for $AXP after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 66.67%.
The peaks and valleys of the AXP chart are extremely consistent over time. Every 7 years we see a cycle where we achieve a new ATH and retrace sharply before repeating the cycle. The time ranges in which the elements of this pattern play out are shown. The time it typically takes from peak to low and the time from low to peak. Based on these consistent time...
The technical figure Triangle can be found in the daily chart in the US company American Express Company (AXP). American Express is an American multinational financial services corporation specialized in payment cards. It is one of the most valuable companies in the world and one of the 30 components of the Dow Jones Industrial Average. The Triangle broke through...
American Express's stock (AXP) rose in the intraday levels, touching the resistance of the 50-day SMA, amid the dominance of the main downward trend in the short term, while the RSI reached overbought levels.
Therefore we expect the stock to return lower, targeting the first support at 142.72, provided the resistance of 153.84 holds on.
Spent the last 5 weeks trying to break the 100sma (orange line) with no success. Broadly, it has been trying to break the 50sma (teal line) since June/July! Now both moving averages are converging.
It'll be important to see how this weekly candle close. If it resembles anything like the tombstone doji that we see now during the mid-week, it will likely fall.
