American Express, the sell signal fails to confirm
American Express: the decline loses steam, better to wait
Our view last week
American Express stock stays boxed in a very tight range: the price sits between the first resistance - the daily pivot average, in the 343 area - and the first support, the 20-day average, in the 342 area. On the daily chart, a sequence of three higher lows is forming, from the 318 area toward the 337 area, but the Sell signal, now in its fourth week, keeps losing steam: strength drops to 2 out of 100. Technical analysis flags trading as not recommended.
This week's summary
American Express has been in a sell signal for 5 weeks now, but the decline hasn't convinced: over the three observation weeks the price recovered instead of falling further, and the signal failed to confirm. The weekly picture stays broadly bearish, with IQS at 47 out of 100 in an ordinary phase, but signal strength has dropped to 23 out of 100: a decline making lower lows that holds its pace without accelerating. Our model flags this asset as not recommended for trading.
IQS Phase
47
ordinary
Signal Strength
23
decline starting to make lower lows
Sizing
MINIMUM
Ranking
#50 / 93
US stocks
Trade P&L %
-3.01%
from signal to date, no stop loss
Rank position
ranks 50th among the 93 sell signals for US stocks in our ranking, with a signal strength of 23 out of 100.
Sector context
SectorFinancials
Benchmark ETFXLF
Sector regimein positive regime
Performanceweekly -1.17% · monthly +2.55%
AXP belongs to the financials sector (reference ETF XLF). The sector is classified in positive regime according to our weekly reading.
restricted Platinum content