AXP missed on earnings and revenue Thu 18th, but only dropped 0.28%. However, their 'miss' was doubling profit from $2.75B to $6.92B. Because it is regarded as banking, the stock trades at a PE of 13.5 compared to 30 for Mastercard and Visa.
It was up 1.95% pre-earning on double normal volume. Tefchnicals show a cup and handle and a golden cross (50MA>200MA).
Allow a little pullback on Monday, and BUY 112.50, SL 107.75 TP 130. RR 3.68. The SL is below the 'B' point, and I have projected A-B = B-C to a price target of $130. Broker PTs average $120, can always take some off there.
AXP is a Dow component.
It was up 1.95% pre-earning on double normal volume. Tefchnicals show a cup and handle and a golden cross (50MA>200MA).
Allow a little pullback on Monday, and BUY 112.50, SL 107.75 TP 130. RR 3.68. The SL is below the 'B' point, and I have projected A-B = B-C to a price target of $130. Broker PTs average $120, can always take some off there.
AXP is a Dow component.
Note
Trade doing well, 6% up. Moving stop to breakevenTrade closed: target reached
Trade finally hit target on 17 Jan, 9 months later.
David Atherton
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David Atherton
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.