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Actionable news in AXP: AMERICAN EXPRESS COMPANY,

Game Plan for American Express as Pennant Trends Converge

American Express (AXP) closed Tuesday at $85.52, up 15.4% year to date and in bull-market territory 29% above its post-election low of $66.31. The stock set its post-election high of $85.88 on July 5. It appears to be poised for a breakout. Here's why!

This price action of AmEx is within a technical pattern called a "pennant pattern" where the stock is below a down trend and above an uptrend. Eventually these too trends must meet. Before they do, the down trend will be broken to the upside, or the uptrend will be broken to the downside.

For American Express, the technicals favor an upside breakout given a positive reaction to earnings to be announced after the closing bell on Wednesday. Analysts expect the credit card giant and component of the Dow...


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