American Express Company Stock Code AXP.NYS
Outlook
Price reached a high of $114.55 on 3rd Dec 2018 while the rest of the market was falling as a result of global economic growth woes. Price reached a bottom at $89.01 on the 26th of Dec on the back of the DJ index 1086 points rally on that day. The rally of Boxing Day’s low has now reached $99.59. It was close to a previous low point and we think the correction could be running into resistance. Price trend is bearish as price is below the cloud and below the Kijun. MACD’s trend is bearish as Signal line is still below zero. MACD’s histogram is turning down, warning of a change in MACD directional movement. We think resistance zone at $99.59 to $99.89 offers an opportunity to get into a short position for $89.01.
Strategy
$98.60 Short Sell
$89.01 Price Target
$102.20 Risk Management Stop
3 weeks Trade Duration
Johnson and Johnson Stock Code JNJ.NYS
Outlook
Price reached a high of $148.99 on the 4th of Dec and on the back of a bearish divergence warning from MACD, has declined to a low of $121.00 on the 24th of Dec. Currently price is correcting the Dec month decline with price near to $130. There is a big resistance zone at $130.50 to $132.80. Price is below and far away from the cloud and base line, indicating a strong bearish trend. MACD is still in a bearish trend but its momentum is weakening. We think the resistance zone offers a good shorting opportunity for $125.36
Strategy
$130.90 Short Sell
$125.36 Price Target
$133.05 Risk Management Stop
3 weeks Trade Duration
