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American Express Co., Elliot Wave Analysis

11/17/2022 10:27 AM

Growth is possible.

On the daily chart, the fifth wave of the higher level (5) develops, within which the wave 3 of (5) formed, and a downward correction ended as the fourth wave 4 of (5), and the fifth wave 5 of (5) develops. Now, the entry first wave of the lower level i of 5 is developing, within which the wave (iii) of is forming. The price of the active may grow to the area of 168.68–173.35. In this scenario, critical stop loss level is 138.53.

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