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Advanced TA SearchArchive
- 4/5/2024 -
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American Express (AXP) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the American Express (AXP). During the week, the AXP dropped -5.23 points, or -2.30%, and closed at 222.46 on Friday, April 5, 2024. It was the worst weekly loss since January 12, 2024. Weekly volume was -29% 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. The price is now at the 9.13% retracement level.
 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 price is near the trend support (222.84) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See AXP weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and 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 links to access Lane's Stochastic 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. 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 Broadening Ascending Wedge chart pattern. The trend support level is at 220.53 and resistance is at 233.67. 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 short-term trend.
 Daily Technical Indicators: [See AXP daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range.
The daily MACD line is below its signal line since February 16, 2024.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below 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.
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