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After Yesterday's Rally of 1.56% Shares Could Potentially Pullback

By David Diaz

American Express (NYSE:AXP) traded in a range yesterday that spanned from a low of $115.43 to a high of $115.80. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $114.21 on volume of 2.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of American Express have traded between a low of $89.05 and a high of $115.80 and are now at $115.80, which is 30% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.2%.

SmarTrend recommended that subscribers consider buying shares of American Express on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $97.97. Since that recommendation, shares of American Express have risen 16.4%. We continue to monitor AXP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders american express

Ticker(s): AXP