The Greedy Trader Weekly Analysis
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- 2/16/2024 -
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American Express (AXP) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtLane's Stochastic bearish divergence
Daily :Williams' Percentage Range is strongly overboughtStochastic signal line moved below overbought areaRelative Strength Index, Lane's Stochastic and MACD bearish divergence
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It was a fifth consecutive positive week for the American Express (AXP). During the week, the AXP climbed 0.09 points, or 0.04%, and closed at 212.56 on Friday, February 16, 2024. AXP was trading at average weekly trading volume.

AXP is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See AXP long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 130.65 and reached 214.29 on February 16, 2024. AXP gained -83.64 points, or -64.02%, in 70 weeks. Price is near the trend high.

Medium-term trend: [See AXP medium-term trend chart]
A medium-term uptrend had started on October 23, 2023 at 140.91 and reached 214.29 on February 16, 2024. AXP gained -73.38 points, or -52.08%, in 16 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (194.47) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See AXP weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See AXP short-term trend chart]
A short-term uptrend had started on January 18, 2024 at 177.81 and reached 214.29 on February 16, 2024. AXP gained -36.48 points, or -20.52%, in 29 days. Price is near the trend high.

Daily Technical Indicators: [See AXP daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence.

The daily MACD line is above its signal line since January 25, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.82
Bearish
Williams' Percentage Range (W%R) 5.80
Strong Overbought
Lane's Stochastic (%D-Slow) 78.35
Bearish
Greed/Fear Indicator (GFI) 81.78
Overbought
Moving Average Converg./Diverg. (MACD) 7.04 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 85.10
Overbought
Williams' Percentage Range (W%R) 2.40
Strong Overbought
Lane's Stochastic (%D-Slow) 90.77
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 86.53
Overbought
Moving Average Converg./Diverg. (MACD) 6.53
Trading Signals
Description Value Chart
Upper Bollinger Band 222.28
Price 212.56
Daily Stochastic Crossing 212.24
Weekly Stochastic Crossing 212.11
Parabolic System 210.36
Monthly Trendline Resistance 208.23
20 Day Moving Average 203.17
Monthly Trendline Support 194.47
50 Day Moving Average 190.26
Lower Bollinger Band 184.77
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Consumer Finance 115
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 207.61
Low Date 02/13/2024
High 214.29
High Date 02/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 177.81
Low Date 01/18/2024
High 214.29
High Date 02/16/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 208.23
Support 194.47
Low 140.91
Low Date 10/23/2023
High 214.29
High Date 02/16/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 130.65
Low Date 10/13/2022
High 214.29
High Date 02/16/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 50.27
Low Date 02/11/2016
High 214.29
High Date 02/16/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.