American Express dominated by descending correctional wave - Analysis - 15-07-2019

American Express' stock fell in the intraday levels after piercing the main upward medium-term trend line, with negative signals from the RSI after reaching overbought levels, with negative pressure from the 50-day SMA. 

Therefore we expect more losses for the stock, as long as the resistance of 126.29 holds on, targeting the first support at 120.0. 

Expected trend for today: Bearish