American Express Breakout On Earnings?

Seasons, Patterns & Cycles • Apr 19, 2023 at 11:27 AM EDT

Technically, American Express is consolidating into a symmetrical triangle pattern above the 100 and 200 EMA on the daily chart and the seasonals are supportive for gains in the second half of August.

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American Express (AXP) earnings are coming up before the open on Thursday.

The company could be poised to benefit from a rebound in travel and dining, as well as its still strong premium consumer contingent in it’s crucial US market.

Its network volume is forecast by Bloomberg to grow 14% from 12% in the previous quarter which could be faster than its rivals Visa and Mastercard. 

Is this a perfect set up for a breakout higher?

Video Length: 00:01:24

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