American Express Company

AXP at a pivot

65


Closed Below 50 ma today but bounced off trendline (Yellowline ).
Has been trading inside this many channel (Purple lines) ever since its last earnings.

green lines -Long targets
Red lines - Bear targets

Short entry - Below 165.41
Tp #1. 159.62 (Fib support , 100ma daily, 20ma weekly)

Tp#2. 154.94

Long entry - If it bounces off yellow trendline id go long up until Purple channel resistance at 169.50. If it gets rejected, cover. If AXP breaks through 169.50 go long up to 174.



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