WAVE 5 TARGET 156.75 plus or minus 1 WAVE 4 low ending now . so far the peak at 151.50 area is wave A x 1.272 at the high , but in a wave B of this degree I would look for the target of wave A X 1.382 = 156.75 for a peak in late april to may 11 super cycle peak . I am moving to a net long calls as of this post june july and oct calls
AXPD trade ideas
Cup and HandlePrice has broken through upper bollinger band which may inicate a pull back very soon. The bands are set on an 80 moving average verses a 20 MA.
May be best to fight FOMO (fear of missing out) and go long after price gets back inside the bands where they reside as a rule (o:
The handle low (HL) and Mid Cup (MC) can both provide support. In case of an emergency, the top of that gap would be very strong support.
Cup depth of 71.13 is used to calculate targets. I set Long entry a bit above the left cup high, I add the targets to the long entry level verses the left cup high. This could differ depending on how you learned to do this and we are all different. I use the .386, .618 and .786 levels for calculating targets 1, and then above that for longer term targets 2. There is always a possibility of a throwback (when price breaks out but returns below long entry level in a short period of time).
To find handle low, look for a horizontal areaa of consolidation in price. Sometimes there is not really a true handle, but they are nice to have (o:
Some consider this pattern invalidated if the handle low reaches below mid cup.
Not a recommendation
American Express is about to join the trend of large selloff.More sell signals on the daily chart. This time there were many over the past few days for American Express. I was hesitant to call this one a sell after its activity on Friday, but the historical statistics agreed there is plenty more downside. This downside coupled with multiple agreements throughout the rest of the U.S. overbought markets further helped convince me the SELL signals from Friday's close are still valid.
I have plotted all of the potential delays to the actual sell off followed by the potential target bottoms. All of these targets and days are based off of historical median and average price action when each signal triggers a SELL on the Daily chart. I received many major SELLs on Friday which is quite the confluence of future activities. I selected NOK, CAT, and AXP as there was a large amount of agreement across the timeframes. Last week was rough and preceded by a bearish MACD cross on the S&P 500 index. All of these signals taken together could spell a 20% correction in the near future. I can understand parallel sell signals in the defense and industrial equipment sectors, but the inclusion of AXP makes me think the market is about to get dropped quite a few pegs. Based on our more recent 5-10-20% drops, this one could be quick and preceded by the same unorthodox recoveries.
The historical figures and reasons for each target are posted as always on my website in the signature block. Feel free to follow as we post new articles nearly everyday.
American Express (AXP) ConsolidationI am not licensed or certified by any individual or institution to give financial or investment advice.
I think American Express could be in a possible roll/consolidation. I have my horizontal Resistance and Support drawn with the orange lines. Key takeaways are the S&P 500, Nasdaq, Dow (to which AXP belongs), and Russell 2000 are all at Uptrend Resistance; and AXP itself is at what I see as its own Resistance as well as forming a Double Top/M. These technical indicators lead me to believe AXP is ready to begin going down. If you are an options trader you may want to decide if it's worth getting into some bearish positions. If you deal strictly with shares this may be a good time to consolidate your cash and prepare it for buying a dip near Support, either to set up for a short term rolling trade strategy or to buy for mid to long term investing purposes.
Rolling patterns may present good opportunities for double dipping if you are an options trader. Puts going down and Calls going up. That's up to you. I don't currently own any positions in AXP.
Let me know what you think, or if you have any questions.
AXP earnings 10/23 + 3 month comparison: COF, DFS, MA & VAXP earnings tomorrow, 10/23 pre-market. I was wondering what credit card company is up or down the most in the past 3 months, so I did a simple comparison.
DFS = +11.73%
V = +11.73%
AXP = +10.62% eve-earnings
COF = +10.13%
MA = +3.14%
AXP earnings per share estimate is $1.35 (-35.1% Y/Y) & revenue estimate is $8.71B (-20.7% Y/Y). Over the last 2 years AXP has beaten earnings estimates 88% of the time and revenue 38% of the time. (credit: seeking Alpha) Considering good news is already baked into the share price the evening before earnings call, I don't think there's any short term upside left tomorrow. Good luck and happy trading friends...
ABC BullishAXP broke up from a S Triangle
Also fell from a bearish Rising wedge
Rising wedges are usually bearish and unlike a triangle, both trendlines pslope the same way
Possible stop under 100 at this point
NV is very high meaning large players are probably buying as they buy on down days
Short is low
Buy red/sell green (o:
Not a recommendation