If an investor wants to buy stocks, a better way to do it is Selling Put options.
What are Put options?
A put option is an option contract giving the owner the right, but not the obligation, to sell a specified amount of an underlying security at a specified price (called Strike Price) within a specified time (called Time to Expiration). This is the opposite of a...
Price currently at SMA 200 support, but SMAs are overall putting downward pressure. Ichimoku cloud also above and turning downward. Entering short at previous support (just above current price), with a stop at the wicks. Putting target near Fib retracement and previous support line. ~3x PL risk ratio.
High Vol. High Beta Stock.
Weekly RSI <25 and PA struggling to go below 117/116.
Trend / Swing Trade Higher.
(rather than my usual Reversal Setup)
Taking 120 / 115 Put Credit Spread.
Also picked up 125 Call for Directional Bias Higher.
Oct Exp but aiming to Close in profit well before that...
Good Luck - Watch your $$$ RISK
I shorted AXP back in July; Had it for several days and made decent profit (never mind the fact that the trade could yield much more if I had not closed it too soon). In any case, I think the short cycle is about to end and the price is about to start climbing like the old days.
After scratching its legs and reaching all-time high in July, the price has moved...
AXP has broken through the topping candlestick pattern formation support levels. The stock ran down to a lower support level, then bounced up. Current support is weak to moderate.
AXP has had a slow downward rounding candlestick pattern as the stock slips down in price. The price has stabilized for the moment at a Topping Completion support level.
W Chart RSI <20
PA consolidating around 122 right on mid BB%. Level.
Looking for Reversal to mean higher.
Taking 121/120 Put Credit Spread.
with 123 Call for Directional Bias Higher.
Sept Exp .
Good Luck - Watch your $$$ RISK
Throughout the past couple of months, slow Dark Pool Quiet Rotation™ was going on while the stock was in Buyback mode. Professional Traders used AXP Buybacks to set up good runs until the past 2 weeks. Now Buybacks stalled, and Retail Traders have taken over.
The earning season already take places!
Let's check out the major names that will have their earning report this week with me yo!
Mon: C
Tue: GS, JPM, JNJ,WFC,UAL, IBKR
Wed: ABT, BAC, NFLX
Thur: MSFT, MS, UNH
and I got only 20 minutes so I didn't record down Friday names like AXP, BLK, and SLB!
Let's see how they go this week yo!
Sometimes a bearish wedge cannot describe how strong a market would be, but a banana shape could.
The Banana Shape of MA+V+MSFT+CSCO+AXP described how strong the market was.
On the current up move from the Dec 2018 low, AXP has continually used prior resistance as support to push higher: the move in late March from around $108 to $120 moved off of the Feb highs and the current leg from $114 to $125 used the mid March highs as a starting point. Currently, AXP could be bouncing off the May 22 high around $121 in an effort to move...
American Express Company, together with its subsidiaries, is a global services company. The Company's principal products and services are charge and credit card products, and travel-related services offered to consumers and businesses around the world. The Company's segments include the Global Consumer Services Group (GCSG), Global Merchant and Network Services (GMNS), and Global Commercial Services (GCS). The Company's range of products and services includes network services; merchant acquisition and processing, servicing and settlement, and point-of-sale marketing and information products and services for merchants; other fee services, including fraud prevention services and the design and operation of customer loyalty programs; expense management products and services, and stored value/prepaid products.
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AXP
