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Look for Shares of American Express to Potentially Rebound after Yesterday's 2.90% Sell Off

By James Quinn

American Express (NYSE:AXP) traded in a range yesterday that spanned from a low of $122.52 to a high of $124.90. Yesterday, the shares fell 2.9%, which took the trading range below the 3-day low of $122.65 on volume of 2.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in American Express. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of American Express in search of a potential trend change.

Over the past year, American Express has traded in a range of $89.05 to $129.34 and is now at $122.57, 38% above that low. The 200-day and 50-day moving averages have moved 0.29% higher and 0.49% higher over the past week, respectively.

Keywords: rebounders american express

Ticker(s): AXP