Securities of the US payment service provider American Express presented themselves quite positively on Monday and provided one or the other food for thought. Because with the advance of the bulls, the value is now directly nourishing a short-term downtrend, above which a follow-up buy signal could be activated.
American Express was able to look back on an uninterrupted downward trend until the Corona crash, within which it succeeded in increasing to a record level of 138.13 US dollars by the beginning of this year. Just a month later, the security was trading at just $ 67.00 and at a support from 2016. It has been able to do so since mid-March American Express but increase again significantly and work your way up to the striking horizontal resistance at around 111.00 US dollars. However, the share is currently stuck in a subordinate downward trend. If it breaks out above it, a small buy-signal back to the resistance from 2018/2019 could soon be set up. The real test for the stock is yet to come!
Course set at 111.00 USD
For a successful buy signal back to 111.00 / 114.00 US dollars, a sustained rise above 107.50 US dollars is necessary. Only then does the probability of a run to the favorite goal increase. The medium-term course will only be set in this area. A slide below the 200-week average and the USD 100 mark, on the other hand, should trigger a sell signal and discounts back to USD 92.20. However, this could affect the medium-term course development American Express have a negative effect and lead to further discounts in the coming months.
- Resistances: 107.50; 109.03; 111.06; 114.00; 116.93; $ 118.41
- Supports: 103.86; 103.27; 102.01; 99.96; 96.39; $ 95.10
American express in US dollars in the daily chart; 1 candle = 1 day (logical candle chart display)
Observation period: 03.12.2019 – 14.09.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de/underlying/US0258161092
American express in US dollars in the weekly chart; 1 candle = 1 week (logical candle chart display)
Observation period: 14.09.2015 – 14.09.2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de/underlying/US0258161092
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American Express – cops are turning up again! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).
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