The American Express Company stock is flying from high to high. A real moat stock. Year to date, the stock has gained a whopping 63.6% in value. Now it will be decided whether it can go even faster, even further.
The stock is trading at the upper trend channel limit. As long as there is no sustained breakout, a sideways consolidation can be assumed. However, if the area around USD 310 breaks sustainably, the trend could accelerate in the direction of USD 350 and later USD 400.
Below USD 285, a consolidation is expanding and targets in the USD 265 range are coming into focus. Only below USD 260 can the bears hope for medium-term success.
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