June 13, 2014
American Express recently rose sharply above the buy target 90.00 that was set in our previous report for this company. The breakout of this buy target was preceded by the breakout of the daily Triangle from February.
The subsequent minor upward impulse wave 3 broke above the resistance levels 92.00 and 94.00 and then approached the resistance level 96.00 – from where American Express corrected down. The price can correct further down to 92.00 – from where the uptrend is likely to be resumed toward the next buy target at 97.00 – or the price can rise straight to 97.00.
The post HY MARKETS News: Stocks Report: American Express Co appeared first on | HY Markets Official blog.
