The Greedy Trader Weekly Analysis
Sign In May 24, 2024
Skip Navigation Links
Share
Number of records: 10
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

Archive
- 5/17/2024 -
Sign In to see current Signals.

American Express (AXP) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Overbought sectorWilliams' Percentage Range is strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergence
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtLane's Stochastic and MACD bearish divergenceThe price touches the upper Bollinger Band
Move cursor over the icon to see details.

It was a second consecutive positive week for the American Express (AXP). During the week, the AXP climbed 0.52 points, or 0.21%, and closed at 242.82 on Friday, May 17, 2024. Weekly volume was -25% 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 243.54 on May 10, 2024. AXP gained -112.89 points, or -86.41%, in 82 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 243.54 on May 10, 2024. AXP gained -102.63 points, or -72.83%, in 28 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 230.79 and resistance is at 264.14. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See AXP weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly 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 weekly Relative Strength Index, Lane's Stochastic and 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 low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 April 11, 2024 at 214.51 and reached 243.54 on May 10, 2024. AXP gained -29.03 points, or -13.53%, in 29 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 238.36 and resistance is at 283.83. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See AXP daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence.

The daily MACD line is above its signal line since May 8, 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.

The price touches the upper Bollinger Band. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.43
Williams' Percentage Range (W%R) 4.70
Strong Overbought
Lane's Stochastic (%D-Slow) 82.81
Overbought Bearish
Greed/Fear Indicator (GFI) 78.19
Moving Average Converg./Diverg. (MACD) 3.97 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.03
Bearish
Williams' Percentage Range (W%R) 1.10
Strong Overbought
Lane's Stochastic (%D-Slow) 78.94
Bearish
Greed/Fear Indicator (GFI) 79.78
Moving Average Converg./Diverg. (MACD) 15.34 Bearish
Trading Signals
Description Value Chart
Weekly Trendline Resistance 283.83
Monthly Trendline Resistance 264.14
Upper Bollinger Band 243.30
Price 242.82
Daily Stochastic Crossing 242.24
Weekly Stochastic Crossing 239.29
Weekly Trendline Support 238.36
Parabolic System 237.31
20 Day Moving Average 237.21
Monthly Trendline Support 230.79
Lower Bollinger Band 228.56
50 Day Moving Average 228.53
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Consumer Finance 102
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 229.13
Low Date 05/03/2024
High 243.54
High Date 05/10/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 283.83
Support 238.36
Low 214.51
Low Date 04/11/2024
High 243.54
High Date 05/10/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 264.14
Support 230.79
Low 140.91
Low Date 10/23/2023
High 243.54
High Date 05/10/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 130.65
Low Date 10/13/2022
High 243.54
High Date 05/10/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 50.27
Low Date 02/11/2016
High 243.54
High Date 05/10/2024
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.