American Express Flashes Strong Short Signal

www.investing.com/analysis/american-express-flashes-strong-short-signal-200430596

By InTheMoneyStocks.com (Gareth Soloway) | Jun 11, 2019 02:14PM ET

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AXP

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Shares of American Express Company (NYSE:AXP) are putting off a multi-factor strong sell signal. The stock chart started out with a squeeze higher only to reverse back to the lows. This is creating a topping tail on the daily chart that signals a sell. In addition, the American Express chart has a time count, which also tells investors of a coming strong pull back. Based on the technical chart, the pull back is likely to hit a target of $120 in the coming days. Traders are shorting the stock as a quick swing trade as well as buying puts. Note the chart below.

American Express

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LA Little Jun 11, 2019 11:22PM ET

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A breakout to all time highs on all time frames. Why would you go against the trend to try and catch $3? A lot smarter to just buy the retrace and have the trend on your side in my opinion.

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American Express Flashes Strong Short Signal

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