Nov. 13 at 12:55 AM
$AXP is currently experiencing strong bullish momentum, closing at
$371.77 with an RSI of 82.53, indicating it is overbought. The price is near the 60-day high of
$373.08, suggesting potential resistance at this level. The moving averages show a bullish trend, with the 30-day MA at
$346.72 and the 50-day MA at
$341.25, both below the current price, indicating strong support levels.
Given the overbought RSI, a pullback may be imminent. Suggested entry is around
$368.00 to capitalize on a potential retracement. Set a stop loss at
$364.00 to manage risk. Target 1 is
$373.00, aiming for a test of the recent high, while Target 2 is
$378.00, allowing for further upside if momentum continues.
Overall, maintain a cautious approach due to the high RSI and proximity to resistance. Monitor for confirmation of price action before entering.
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