Could go either way here, but i am swaying to the short side more than long! I will come back to this Monday
Target 59-58.30 area
Edit to add: I love this VPVR Indicator. Great visual
The weekly chart looks pretty interesting to watch for a move from Friday’s close that would be 14.07%. Keep in mind that this stock took a hit within 3 months. American Express is trying to make it back up above $74.76. I think that American Express will recover with 51 days when earnings reporting. The month started off in green a little resistance within the...
Long AXP if it trades at 66.00 or higher. If triggered, place your stop at 63.69 and exit the position for a profit at 71.50 or at your own discretion.
We were coming from 95 $ in late 2014. Now we see an attempt to retest the highs of at least December 2015. The overall trend is down. If this backtest fails we may see a sharp fall.
Caution is warranted for bulls, as the rebound in AXP has taken price almost to its first major target. Earnings were a positive surprise, but - as with all financials - we still have to watch if this is real buying or just a counter-trend rally.
Depending on the general market, further recovery in AXP off support at 52.00 USD could take it back to 65.00 and 67.43. Should we see declines in Indices I expect a sideways price behaviour in AXP, but as long as 52.00 USD holds I will be cautiously bullish.
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...
