AMEX new update: HOLD
Amex reported lower-than-expected 1Q earnings, but reading the report, it expects full-year earnings to grow between 10 and 15%. Historically the stock has moved above the indicated moving averages, only during the covid and this increase in interest rates has pushed to lower levels. My forecasts for the year 2023 are a trading range between 128 and 187 dollars, the advice is to wait and gradually increase on further weaknesses. I don't really like entering Fibonacci levels, as the market follows the levels of different ups and downs, ultimately it is impossible to evaluate with certainty. The crossing of the two moving averages is confirming the period of weakness.
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