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American Express Crosses Below its 10-day MA (AXP)

By Amy Schwartz

American Express (NYSE:AXP) shares have crossed bearishly below their 10-day moving average of $85.76 on a volume of 840K 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 $57.15 to $87.78 and is now at $85.48, 50% 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 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 6.6%. 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