Sagar Nandi
Consumer finance stock gave a Box short trade setup.

CUE 360° analysis summary

$AXP showed the Box short setup yesterday on 19th Mar.

(1) The consumer finance industry is weak and (2) it is decelerating. (3) AXP is overvalued, and (4) has reducing earnings growth. Fundamentally, it is weak. (5) On the weekly chart, AXP displayed Bear Release signal at past Watermark pivot resistance. (6) Daily presented a Bearish Headwind reversal signal earlier which lead to a significant price drop. (7) Now the stock came near that same Headwind as well as past Watermark resistance price level and created a false upside breakout. It displayed the Bear Release signal on 19th Mar. That is when you could find it using CUE Sonar scanning program. (8) You may be watchful of the Memory trendline support nearby. (9) Price is at Pendulum (extreme) High. That may provide a lucrative shorting opportunity at the top.

You may be cautious if you are holding a long position and look for a low-risk shorting opportunity.

All the snapshots are from around 12:30 PM EST on 20th Mar 2019.

Numbering in the text below follows the marking on the pictures.

IMPORTANT: As the price may move up or down during the day, you may confirm a swing trade setup at or near market close.

AXP EDGE 2019-03-20_12-24-12.png  AXP FUND 2019-03-20_12-24-24.png  axp tech 2019-03-20_12-22-12.png 
Sagar Nandi
The AXP bearish trade has hit the initial profit target of Memory support line today. CUE traders would book profit.

1) The trade idea was shared based on Box setup displayed on 19th Mar.

2) In three trading days, today 22nd Mar, the trade has hit the profit target.

axp followup 2019-03-22_14-20-05.jpg 

Disclaimer: This site is for educational purposes only, explaining the use of CUE systems and techniques. It is not for trade advice. Trading involves risk. You and only you are solely responsible for the outcome of your trades.

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