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Advanced TA SearchArchive
- 5/3/2024 -
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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 -4.87 points, or -2.07%, and closed at 230.77 on Friday, May 3, 2024. Weekly volume was 16% above 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 240.55 on April 24, 2024. AXP gained -109.90 points, or -84.12%, in 79 weeks. The price is now at the 8.90% 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 240.55 on April 24, 2024. AXP gained -99.64 points, or -70.71%, in 26 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 224.50 and resistance is at 256.02. 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 overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 240.55 on April 24, 2024. AXP gained -26.04 points, or -12.14%, in 13 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 225.18 and resistance is at 258.37. 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 technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
A Parabolic SAR (stop and reversal) indicator (228.9) comes close to the price (230.77). It indicates that the trend is getting weaker. 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.
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