Swing Trade Idea – (AXP) – July 07, 2020
Our bullish trade for Tuesday, July 7th is AXP (American Express Co). AXP is part of the Financials Sector (XLF). XLF has experienced a 7.47% loss in the last month and its 1M trend turned bearish on June 26th.
AXP’s 6M trend turned neutral on June 29th and has recently pulled back to an area of support. With a technical score of 3 (out of 10), AXP is a weak stock that will likely move higher.
As a stop loss, if AXP were to trade below $92.00 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We would also consider cutting losses on this options trade if the value of the vertical spread moves above $4.00.
