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American Express Bearish Moving Average Crossover Alert (AXP)

By James Quinn

Today, shares of American Express (NYSE:AXP) have crossed bearishly below their 10-day moving average of $127.04 on a volume of 2.6 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of American Express have traded between a low of $89.05 and a high of $129.34 and are now at $125.36, which is 41% above that low price. The 200-day and 50-day moving averages have moved 0.36% higher and 0.63% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of American Express on June 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $120.46. Since that recommendation, shares of American Express have risen 6.6%. 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

Ticker(s): AXP