American Express Wave Analysis 14 August 2024

– American Express rising inside minor impulse wave iii

– Likely to reach resistance level 250.00

American Express recently continues to rise inside the minor impulse wave iii, which started earlier from the support area located between the strong resistance level 222.00 (previous monthly low from June), lower daily Bollinger Band and the support trendline of the daily up channel from April.

The active short-term impulse wave iii belongs to the higher order impulse waves 3 and (3).

Given clear daily and the weekly uptrend, American Express can be expected to rise further toward the next resistance level 250.00.