A clean Double Bottom often precedes a big move. Validate your entry.
Reversal pattern after a downtrend.
Gradual reversal from bearish to bullish.
Traders are watching American Express (AXP) as price action tightens. Currently at $326.17, the asset is showing downward momentum (-4.3%). Price action has carved out a classic Double Bottom. The trend indicator is reading 37.2/100, suggesting moderate momentum. A potential breakout level is identified at $363.14, targeting $417.49 with support near $335.97 (R:R 2.0).
What is your outlook on AXP?