American Express Company show the pattern head and shoulders, we can see in the neck line a bullish trend, after showing the left shoulder and the head, next can see in the right shoulder how it breaks the neckline and changes to a bearish trend.
The eventual next target of #AXP is all time high at $96.
for long trade:
Stop Loss 80
Chance/Risk Ratio = ~2
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American Express is making quite a nice recovery since its 2016 low and it appears to be unfolding as an impulse wave requiring one more down-up sequence before being completed. Once over a larger decline will ensue. Magnitude unknown.
We are trading exactly at the Pivot resistance Level - this is the Make-or-Break-Level!
The RSI signs an overbought Situation, so we perhapas should exspect a tiny consolidation before we see the BO. The TP could be 76,75$