American Express
  • AXP

  • $246

  • +2.38%
  • $242

  • $246

  • $242

Ticker Appearances

Thu, February 22, 2024 | 4:02PM ET
Financials are in focus technically after forming a tight ascending triangle pattern that likely should be resolved by an upside breakout. Thus, while markets might seem stretched to many investors, one of the key representative parts of '"the market" is Financials, the 3rd largest part of ^SPX 1.11%  at around 12.5%. (XLF 1.57% ) A breakout in Financials will let this move extend even longer. My UPTICKS stocks which i technically prefer are AXP 2.38%  (just breaking out today back to new all-time highs above 2/8/24 intra-day peaks) and BRK-B 0.94% .B, although this latter stock is growing stretched. Additional technically attractive stocks within the Financials space include V, and MA, along with the exchanges (CME and ICE, this latter could possibly hit new all-time highs by tomorrow's close over 139.79 which could help this accelerate) Overall, Financials are a technical overweight, despite some of the regional banks being under pressure and selectivity remains key. Other names of interest technically: KKR, BX, BRO, PGR- Chart of Invesco's Equal-weighted Financials ETF shown (RYF)
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^Prices as of 2024-07-26 16:15:15