The MarketSmith BlueDot Scan couples pattern recognition with a RS line that is trending and printing a new 52-week high. Stocks in this scan are then added to a watchlist that triggers when a candidate breakouts out of its base or breaking out past a new buy point.
American Express (AXP) reports earnings in less than 30 days. In addition, the left panel shows the financial services company’s earnings have steadied, after taking a dip in 2020. AXP is near a new buy point at 179.77, ten cents above its recent pivot high. Click chart to enlarge.
Additional stocks on the list from the restaurants and bars industry group, energy and technology sectors are setup similar to American Express. We’ll watch these stocks and comment on their performance, live during the market broadcast this week.
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