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Look for Shares of American Express to Potentially Rebound after Yesterday's 1.27% Sell Off

By Nick Russo

American Express (NYSE:AXP) traded in a range yesterday that spanned from a low of $105.13 to a high of $106.64. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $107.54 on volume of 1.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

American Express share prices have moved between a 52-week high of $114.55 and a 52-week low of $87.54 and are now trading 21% above that low price at $106.27 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

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.

Keywords: rebounders american express

Ticker(s): AXP