$AXP has broken above resistance in its new “Go” trend.
$AXP entered a new “Go” trend at the end of August after rallying from a lower low in a brief “NoGo” Trend. As price rallied off the low, we saw GoNoGo Trend paint a majority of amber “Go Fish” bars of uncertainty and GoNoGo Oscillator broke out of a GoNoGo Squeeze into positive territory. When GoNoGo Trend painted a series of strong blue “Go” bars, momentum was well and truly on its side in positive territory. In early September, price failed to make a significantly higher high and GoNoGo Oscillator fell to test the zero line from above. It has repeatedly found support at that level and on the latest bounce back into positive territory it gave price the push it needed to break out above resistance to a new high on a strong blue “Go” bar. We will watch to see if price can remain at these elevated levels this week and use it as a platform for higher prices.
