The Greedy Trader Weekly Analysis
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Monthly Price vs. Trendline:Testing Support
Number of records: 2
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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.
Resistance Trend Line,Trend Line Resistance,Trend Line Support,Support Resistance,support and resistance,chart trend line,trend support

American Express (AXP)

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Summary:
Weekly :Broken trend support lineLane's Stochastic is oversold
Daily :The price moved above the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was a second positive week after 3 consecutive negative weeks for the American Express (AXP). During the week, the AXP gained 4.29 points, or 2.80%, and closed at 157.24 on Friday, May 26, 2023. Weekly volume was -10% below average.

Long-term trend: [See AXP long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 130.65 and reached 182.15 on February 14, 2023. AXP gained -51.50 points, or -39.42%, in 17 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (168.83) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a long-term trend.

Medium-term trend: [See AXP medium-term trend chart]
A medium-term downtrend had started on February 14, 2023 at 182.15 and reached 146.28 on May 11, 2023. AXP lost 35.87 points, or 19.69%, in 12 weeks. The price is now at the 30.55% retracement level.

Weekly Technical Indicators: [See AXP weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. 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 link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since March 31, 2023. This is an indication that the medium-term trend is down. 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 May 11, 2023 at 146.28 and reached 158.25 on May 26, 2023. AXP gained -11.97 points, or -8.18%, in 15 days. The price is now at the 8.44% retracement level.

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

The daily MACD line is above its signal line since May 17, 2023. This is an indication that the short-term trend is up.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.26
Williams' Percentage Range (W%R) 58.10
Lane's Stochastic (%D-Slow) 66.35
Greed/Fear Indicator (GFI) 55.18
Moving Average Converg./Diverg. (MACD) -2.24
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 36.65
Williams' Percentage Range (W%R) 77.30
Lane's Stochastic (%D-Slow) 19.21
Oversold
Greed/Fear Indicator (GFI) 28.59
Moving Average Converg./Diverg. (MACD) 1.15
Trading Signals
Description Value Chart
Monthly Trendline Support 168.83
Upper Bollinger Band 159.57
50 Day Moving Average 157.72
Price 157.24
Daily Stochastic Crossing 154.58
20 Day Moving Average 152.07
Weekly Stochastic Crossing 150.30
Parabolic System 149.22
Lower Bollinger Band 147.74
Sector and Industry
Description Name Rank
Sector Financials 4
Industry Consumer Finance 47
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 146.28
Low Date 05/11/2023
High 158.25
High Date 05/26/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 182.15
High Date 02/14/2023
Low 146.28
Low Date 05/11/2023
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 216.97
Support 168.83
Low 130.65
Low Date 10/13/2022
High 182.15
High Date 02/14/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 199.55
High Date 02/16/2022
Low 130.65
Low Date 10/13/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 50.27
Low Date 02/11/2016
High 199.55
High Date 02/16/2022
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.

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