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American Express Bearish Moving Average Crossover Alert (AXP)

By Shiri Gupta

American Express (NYSE:AXP) shares have crossed bearishly below their 10-day moving average of $84.97 on a volume of 1.8 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, American Express share prices have been bracketed by a low of $57.15 and a high of $85.90 and are now at $84.72, 48% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 1.3%.

SmarTrend recommended that subscribers consider buying shares of American Express on June 15th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $80.74. Since that recommendation, shares of American Express have risen 6.4%. 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