Submitted by admin on Mon, 01/11/2010 - 20:25
Posted in
The stock chart for American Express (AXP)appears to be forming what appears to be an ascending triangle. This is considered a bullish formation, but you need a breakout to the upside for confirmation. The volume typically decreases throughout the formation of the pattern. Read on for price targets.
The minimum price target for AXP would be $45.5/share, if it breaks out to the upside. You can check out the tutorial on how this was derived. The average rise on this pattern is generally more than 20%.