American Express Co.(AXP) exhibits weakness on double top formation

By Craig Jones
Benzinga Staff Writer
October 22, 2009 7:37 AM

Symbols: AXP

Posted in: News, Short Ideas, Initiation, Technicals, Trading Ideas

Amercian Express Co. (NYSE: AXP) stock is exhibiting weakness at current levels of $35.

There is strong resistance in AXP stock at $36 levels as the stock is exhibiting double-top formation at current levels.

The American Express Company (AXP) is due to report its quarterly results today. One can short the AXP stock at levels of around $35 and expect the stock to find support at $32 levels.

There is strong resistance in AXP stock at $36 levels as the stock is exhibiting double-top formation at current levels.

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American Express Co.(AXP) exhibits weakness on double top formation

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