In this daily bar chart of AXP, below, we can see that prices are back below the declining 200-day moving average line as well as the cresting 50-day moving average line.
Prices are testing the lower band of a sideways trading range, and it does not look like buyers are coming to the rescue. The trading volume has been declining since March and now prices look like they are falling of their own weight. The On-Balance-Volume (OBV) line has been stuck in neutral since March. The Moving Average Convergence Divergence (MACD) oscillator has been hugging the zero line since July telling us there is little trend strength.
In this weekly bar chart of AXP, below, we can see that prices are trading below the declining 40-week moving average line. The weekly OBV line looks like it is turning lower after a long sideways trend. The MACD oscillator looks poised to cross to the downside from just below the zero-line.
In this daily Point and Figure chart of AXP, below, we can see a potential downside price target in the $80 area.
Bottom line strategy: The charts of AXP are looking vulnerable and a fall to the $80 area will likely drag the Dow Jones Industrial Average lower. Avoid the long side.