American Express (AXP) is still pushing even higher, as hoped.

As we noted on Oct. 30, “Oversold shares of American Express (AXP) look interesting. For one, the AXP stock is technically oversold at support dating back to late 2022, or early 2023. It’s also technically stretched on RSI, MACD, and Williams’ %R, and appears overdue for a bounce back.”

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At the time, AXP traded at $143.27.  Today, it’s up to $171.04 and could break even higher, as it begins to break from consolidation. Making AXP even more attractive, the company just declared a 60-cent dividend, payable on Feb. 9 to shareholders of record, as of Jan. 5. Even better, Morgan Stanley just raised its price target on AXP to $199 a share.


Ian Cooper