Amex Consolidation: Will AXP Break Out Soon?

As the market awaits its next move, American Express (AXP) appears to be in a period of rest and consolidation. According to technical analyst Bob Lang, most indicators are neutral, with the MACD flat, ADX heading towards zero, and money flow stalled out as has the stochastics.

Lang notes that Parabolic SAR remains bullish, but volume trends are declining as the stock moves sideways. Candles are teal (cautiously bullish), indicating a lack of interest in buying or selling the name at this time.

TheStreet Pro Portfolio rates American Express a One (buy at anytime) and Lang believes that eventually we will see a move coming from the company.