American Express Bearish Moving Average Crossover Alert (AXP)
American Express (NYSE:AXP) shares have crossed bearishly below their 10-day moving average of $65.14 on a volume of 1.0 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, American Express has traded in a range of $50.27 to $81.92 and is now at $64.83, 29% above that low. The 200-day and 50-day moving averages have moved 0.42% lower and 1.28% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of American Express on March 1st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $56.23. Since that recommendation, shares of American Express have risen 18.1%. We continue to monitor AXP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses american express