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American Express breakout on earnings?

American Express breakout on earnings?

American Express breakout on earnings?

in Seasonal Insights

American Express earnings are coming up before the open on Thursday. The company could be poised to benefit from a rebound in travel and dining, as well as its still strong premium consumer contingent in its crucial US market. Its network volume is forecasted by Bloomberg to grow 14% from 12% in the previous quarter which could be faster than its rivals Visa and Mastercard.

Technically, American Express is consolidating into a symmetrical triangle pattern above the 100 and 200EMA on the daily chart and the seasonals are supportive for gains in the second half of August.

Is this a perfect setup for a breakout higher?

Major Trade Risks: The major trade risk here would be if American Express earnings disappoint and/or if sentiment turns negative for US stocks on more aggressive Fed hiking expectations.

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Legal Forms & Documents

Risk Warnings

Cookies Policy

Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

* Cryptocurrencies are not available for trading under HYCM (Europe) Limited and Henyep Capital Markets (UK) Limited (retail clients only).

*Any opinions made in this material are personal to the author and do not reflect the opinions of HYCM. This material is considered a marketing communication and should not be construed as containing investment advice or an investment recommendation, or an offer of or solicitation for any transactions in financial instruments. Past performance is not a guarantee of or prediction of future performance. HYCM does not take into account your personal investment objectives or financial situation. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast, or other information supplied by an employee of HYCM, a third party or otherwise.

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