AMERICAN EXPRESS with conservative SetUp

68.10 Yearly High 2016 @ 1st Trading Day this Year

64.04 100 SMA
62.69 200 SMA

62.33 low after break out of trading box

61.25 gap - while the sell off @ start of the year
58.85 gap - while the sell off @ start of the year

buying trading capability above the trading range (58.85 & 61.25)
- the lows in may and june/july supported the upside (even above 62.33) too.

Take care
& analyzed it again
- it`s always your choice ...

Best regards
4XSetUps

Commentaire:

After the 1st GAP between 68.10 (1st trading day 2016 - yearly high until last weeks) & 69.38 (last trading day 2015 - yearly low) was closed is meanwhile the target 73.31 & 76.39 (sell pressure end of last year`15) ...

Today we opend higher 74.80 but trading lower now - lower as yesterday close too. But this is not so important like the price action between 73.31 & 76.39 AXP (in the bigger technical picture) based on daily candles.