The Greedy Trader Weekly Analysis
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Monthly Price vs. Trendline:Testing Support
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Trend Line Resistance Trend Line Support Resistance.

Trendline support resistance provides an excellent buy/sell signals in trending market. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Take profit on the trend line resistance level. Reverse the technique in a downtrend. Short around the resistance trend line level and place a stop order above the trend line resistance.

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- 3/28/2024 -
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American Express (AXP) Technical Analysis

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Summary:
Weekly :Overbought sectorRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtMACD bearish divergenceBroken trend resistance line
Daily :
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It was a second consecutive positive week for the American Express (AXP). During the week, the AXP climbed 1.73 points, or 0.77%, and closed at 227.69 on Thursday, March 28, 2024. Weekly volume was -27% below average.

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 231.69 on March 21, 2024. AXP gained -101.04 points, or -77.34%, in 75 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 231.69 on March 21, 2024. AXP gained -90.78 points, or -64.42%, in 21 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (212.54) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD 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 relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 231.69 on March 21, 2024. AXP gained -53.88 points, or -30.30%, in 63 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 223.89 and resistance is at 231.05. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.

Daily Technical Indicators: [See AXP daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since February 16, 2024. The distance between MACD and the signal line is low, but getting bigger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.46
Williams' Percentage Range (W%R) 20.70
Lane's Stochastic (%D-Slow) 62.52
Greed/Fear Indicator (GFI) 66.41
Moving Average Converg./Diverg. (MACD) 4.48
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 81.92
Overbought
Williams' Percentage Range (W%R) 4.00
Strong Overbought
Lane's Stochastic (%D-Slow) 93.95
Strong Overbought
Greed/Fear Indicator (GFI) 85.92
Overbought
Moving Average Converg./Diverg. (MACD) 12.52 Bearish
Trading Signals
Description Value Chart
Weekly Trendline Resistance 231.05
Weekly Stochastic Crossing 229.44
Upper Bollinger Band 229.29
Price 227.69
Daily Stochastic Crossing 227.14
Monthly Trendline Resistance 226.30
Weekly Trendline Support 223.89
20 Day Moving Average 222.86
Parabolic System 221.12
Lower Bollinger Band 215.17
Monthly Trendline Support 212.54
50 Day Moving Average 212.16
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Consumer Finance 106
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 224.32
Low Date 03/26/2024
High 228.46
High Date 03/28/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 231.05
Support 223.89
Low 177.81
Low Date 01/18/2024
High 231.69
High Date 03/21/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 226.30
Support 212.54
Low 140.91
Low Date 10/23/2023
High 231.69
High Date 03/21/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 130.65
Low Date 10/13/2022
High 231.69
High Date 03/21/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 50.27
Low Date 02/11/2016
High 231.69
High Date 03/21/2024
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.