Long

AXP Fibonacci Retracement

Updated

AXP is looking prime to break through the other 3 out of 4 resistance levels drawn. If it doesn't lets look to see if it revisits support, if it goes below $80, which would be then 2/4 of the support levels broken, it would look to start to be a buy for me. Ideally I would love to buy this in the $75-$69 range if I was presented with another downtrend from AXP.

Key Levels
Resistance: $94.07, $93.98, $91.74, $85.89
Support: $83.64, $83.65, $78.66, $75.03

I'm using the time frame of 195 minutes in order to be able to give ourselves a bit better view of how the price of AXP has moved during active trading hours. I use 195 minutes as it equates to 3.25 hours, which in turn is similar to using the 65 minutes interval. By using the 65 minutes interval we are avoiding the first 30 minutes of trading, due to news being published, announcements, and overnight orderings being filled. Stocks will typically gap up or gap down and then reverse their direction during the first 30 minutes of trading.

The first 30 minutes is typically where the retail investors and new investors are never warned about and will get their face ripped off due to FOMO. If we had used a 60 minute chart, it presents a flaw, this would give us a trading session without equal intervals, since 390 minutes is not divisible by 60 minutes -- when divided it gives you 6.5 intervals. This is why in our interval we ignore the first 30 minutes of trading in our charts.

The 195 minute interval satisfies the Fibonacci friendly numbers as well, by using 13 minutes, 65 minutes, 130 minutes, and 195 minute charts. The 195 minute chart typically is great for looking to start a position of commons, by also using this one indicator to verify it against any others you may use typically for your long dated positions. Another interval that can be great to use is the 78 minutes -- it gives a nice equal 5 intervals during a trading session -- and yes, you guessed it, it's also divisible by the magical Fibonacci number of 13, which gives you 6 equal intervals. Never forget, God rested on the 7th day to create everything, it only took 6 days -- there's that magic number again.

Note

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Note

D'oh - I realized I put the key levels in the wrong order, and then realized TradingView will not let you update the idea once it's been published.

Key Levels
Resistance: $85.89, $91.74, $93.98, $94.07
Support: $83.65, $83.64, $78.66, $75.03

Note

AXP Dividend

Next Dividend: 8/10/2020
Annual Dividend: $1.72
Dividend Yield: 1.93%
Frequency: Quarterly Dividend
Most Recent Increase: $0.04 increase on 9/25/2018

Payout Ratio(s): 20.98% (Trailing 12 Months of Earnings)
37.07% (Based on This Year's Estimates)
22.37% (Based on Next Year's Estimates)
16.12% (Based on Cash Flow)
Track Record: 8 Years of Consecutive Dividend Growth

Note

Broke 2 support key levels today of $83.64 & $83.65

Note

AXP next key support is $78.66 -- Currently @ $79.70

Note

AXP broke a key support of $78.66 -- Next support is $75.03

Trade active

I forgot to update this, but I did fill a position on 5/13 at $79.02

Trade active

AXP broke last key support of $94.08

Trade active

Above $118.25 currently.

buy-the-dip

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