American Express (AXP)
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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.