American Express (AXP) has enjoyed an unprecedented Bullish run to new all time highs over the past couple of years, rising as much as 600% from its low of $10 back in March 2009. Given the fact that The Fed has distorted the market dynamics, which makes it really hard for Analysts like myself to initiate Bearish trades, especially on Financial stocks, I believe that AXP is about to break bearish (short-term), and as such, we can take advantage of this move to make ourselves some serious $$$.
Here is the daily chart of AXP:
Price Target: $66
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