American Express: +1.4% with earnings ahead
American Express gains 1.4% and heads into earnings as the signal loses steam
American Express: +1.4% with earnings ahead
Our view last week
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%.
This week's summary
American Express shares add 1.4% this week and complete a double bottom in the 308 area, rebounding 6% off the lows. In this week's technical analysis the structure still holds - moving averages aligned, MACD improving - but under the surface small caution flags pile up: contracting volume, mixed rejection bars, a daily money flow just below zero. The stock heads into earnings week, due July 24, while the buy signal, now in its fourth week, starts to lose steam.
IQS Phase
82
in tension / maturity
Signal Strength
35
medium · weak
Sizing
REDUCED
Ranking
#97 / 112
US stocks in progress
Trade P&L %
+5.13%
from signal to today
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