American Express, week 3 of a buy signal
American Express slips 0.4% and holds the high range as Financials pushes higher
American Express, week 3 of a buy signal
Our view last week
American Express is in week 2 of a buy signal, with the confirmation week closing higher. The setup quality indicator climbs to 79 out of 100, in maturity tension, but signal strength stays medium-weak at 38 out of 100. The trade already sits at +4.13% since entry, with price pressing against the first resistance. Earnings are approaching, on July 24.
This week's summary
American Express is boxed into an extremely tight range, wedged between a support and a resistance just a few tenths of a percent apart: the week gave back 0.4%, with mixed rejection candles hinting at hesitation right under the highs. The technical picture still holds up, though — the weekly MACD improving, buyers running 66% of daily volume, and the Financials sector in a strength phase — in week 3 of a buy signal already up 3.7%.
IQS Phase
91
in tension / maturity
Signal Strength
38
medium · weak
Sizing
REDUCED
Ranking
#98 / 129
US stocks in progress
Trade P&L %
+3.72%
from signal to today
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