AXP American Express Scheduled to Report Earnings 1-24-20
AXP American Express Stock Chart Before Earnings 1-24-20
American Express (AXP) earnings preview: Higher revenue and profits expected in Q4
American Express Company (NYSE: AXP) is slated to report fourth quarter 2019 earnings results on Friday, January 24, before the market opens.
The topline numbers are likely to benefit from cardmember spending and revenues from fee-based products. The results might also be helped by a growth in the small and medium-sized enterprise sector as well as in consumer spending.
How to Play an Overbought Market: Outlier Stocks
We are seeing off-the-charts buying persisting right into the new year. Last week saw an astonishing ratio, with nearly 700 buy signals against only 58 sells. Out of 11 sectors, 10 saw more than 25% of their institutionally tradable stocks log buys. The buying is not only persistent; it's massive!
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TXN Weekly Chart 1-24-20
This weekly chart of Texas Instruments TXN shows the stock price breaking out to multi-year highs.
Recently the stock declined and immediately bounced holding the price of the breakout. This tells me the buyers are still active.
Certain stocks are good for momentum trading. Quick, easy wins from 3-5 days that are easy to trade. TXN is not one of them.
But that doesn't mean we can't profit from the bullish order flow.
I'm looking to start a new trade with expectations to hold the position for roughly a month. That seems to be consistent with how the stock trends. My stop loss is on a close below $130.
If the trade unfolds perfectly I'm shooting for a $155 profit target.
Have a great weekend!
Pete
