Shares of American Express Co., one of the leading American multinational companies providing payment transaction services, are trading at 239.00.
On the daily chart, the price is rising within the ascending wave inside the channel with dynamic boundaries of 250.00–220.00.
On the four-hour chart, the quotes broke through the yearly high of 232.00 and can now reach the 61.8% and 100.0% Fibonacci extension trend levels at 274.50 and 268.00, respectively.
Technical indicators are strengthening the buy signal: fast EMA on the Alligator indicator are above the signal line, and the AO histogram is forming ascending bars in the buy zone.
Trading tips
Long positions may be opened after the price rises and consolidates above 247.50, with the target at 268.00. Stop loss – 240.00. Implementation period: 7 days or more.
Short positions may be opened after the price declines and consolidates below 232.00, with the target at 214.00. Stop loss – 240.00.
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