AXP American Express Daily Chart

AXP American Express chart shows a downward channel developing, with a lower low and a lower high so far. Once price moves towards 42 again that will provide a lower low. Recent price action came upwards into a rising wedge, price filled the gap at 45-46 to close out that loose end. Chart has been movnig sideways for many months, price is rolling over since autumn; the negative divergence topped it out in February. The 20 MA crossed down thru the 50 MA and is staying there so far, which is bearish. Targets of 45.0, 43.5 and 42.0 are reasonable. Price action should be sideways to sideways down into summer time. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.