$AXP - fake breakout or recharge?

23 thg 7

I typically never look at stocks that have a huge run up and seem over extended on the 1 day chart.

But, the 4 hour chart clearly shows a reversal from being oversold with momentum and all key indicators pointing towards a move up.

Due to the big wick on Friday, the fib channel has opened a pathway to $260.

Unusual options activity at $260 strike price as well for august.... seems a bit premature but the range is evident and the last 3 candles on the 4 hour chart show it wants to move.

This is interesting for me as it goes for, and against, what I look for in a price target.

Then I realize, I'm against it based on feeling/judgement. The indicators point towards $260, or at least $250-$260 range.

Not trade advice.