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American Express Set to Possibly Pullback After Yesterday's Rally of 1.39%

By Shiri Gupta

American Express (NYSE:AXP) traded in a range yesterday that spanned from a low of $114.07 to a high of $115.79. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $114.77 on volume of 797,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend is tracking the current trend status for American Express and will alert subscribers who have AXP in their portfolio or watchlist when shares have changed trend direction.

American Express share prices have moved between a 52-week high of $129.34 and a 52-week low of $89.05 and are now trading 30% above that low price at $115.50 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has risen 0.2%.

Keywords: rebounders american express

Ticker(s): AXP