Trend Tracker for American Express AXP

June 28, 2021, 16:45 pm ET, BY Jesse F.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

The data for American Express (NYSE: AXP) herein utilizes proprietary algorithms produced by Stock Traders Daily and refined since the turn of the century.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for AXP change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if AXP is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for AXP too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for AXP

• Buy AXP slightly over 161.07 target 169.90 stop loss @ 160.6 Details

The technical summary data tells us to buy AXP near 161.07 with an upside target of 169.90. This data also tells us to set a stop loss @ 160.6 to protect against excessive loss in case the stock begins to move against the trade. 161.07 is the first level of support below 164.78 , and by rule, any test of support is a buy signal. In this case, support 161.07 is being tested, a buy signal would exist.

• Short AXP under 169.90, target 161.07, stop loss @ 170.39 Details

The technical summary data is suggesting a short of AXP as it gets near 169.90 with a downside target of 161.07. We should have a stop loss in place at 170.39though. 169.90 is the first level of resistance above 164.78, and by rule, any test of resistance is a short signal. In this case, if resistance 169.90 is being tested, a short signal would exist.

Swing Trading Plans for AXP

• Buy AXP slightly over 169.63, target 169.90, Stop Loss @ 169.14 Details

If 169.63 begins to break higher, the technical summary data tells us to buy AXP just slightly over 169.63, with an upside target of 169.90. The data also tells us to set a stop loss @ 169.14 in case the stock turns against the trade. 169.63 is the first level of resistance above 164.78, and by rule, any break above resistance is a buy signal. In this case, 169.63, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short AXP near 169.63, target 163.81, Stop Loss @ 170.12. Details

The technical summary data is suggesting a short of AXP if it tests 169.63 with a downside target of 163.81. We should have a stop loss in place at 170.12 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 169.63, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for AXP

• Buy AXP slightly over 165.98, target 169.63, Stop Loss @ 165.59 Details

If 165.98 begins to break higher, the technical summary data tells us to buy AXP just slightly over 165.98, with an upside target of 169.63. The data also tells us to set a stop loss @ 165.59 in case the stock turns against the trade. 165.98 is the first level of resistance above 164.78, and by rule, any break above resistance is a buy signal. In this case, 165.98, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short AXP near 165.98, target 163.81, Stop Loss @ 166.37. Details

The technical summary data is suggesting a short of AXP if it tests 165.98 with a downside target of 163.81. We should have a stop loss in place at 166.37 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 165.98, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

AXP Ratings for June 28:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Strong
P1	0	0	151.98
P2	165.98	163.81	161.07
P3	169.94	169.63	169.90

Support and Resistance Plot Chart for AXP

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