Taking a look at American Express as Goldman Sachs is supposedly in talks with the company to offload Apple credit card and savings products.

Taking a look at American Express as Goldman Sachs is supposedly in talks with the company to offload Apple credit card and savings products. Its stock price closed in yesterday’s session at $175.55 a share and the market will not open until tomorrow as today is a bank holiday in the U.S. The price of the stock has been rallying since October last year, creating higher lows along the way as highlighted by the channel on the chart. The price has now approached a resistance level at $177.03 (white oval), it tried to break and close above it in yesterday’s session but failed. If we see a break and close above this level this week, then this could be an indication of a possible move higher towards the tougher resistance at $183.38. However, if another rejection occurs around $177.02, we might then see a slight retracement lower before a push higher. The size of the retracement is not guaranteed and the arrows are just acting as an example based on the history of the chart. Support sits at $171.59 then at $164.33. Only a dip below $164.33 may suggest that further moves lower are possible. Therefore, the bias for the time being remains bullish. Looking at the technical indicators, MACD is negative-flat but seems to be turning positive, and RSI is positive as it reads 68.