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SmarTrend Watching for Potential Rebound in Shares of American Express After 1.51% Loss

By James Quinn

American Express (NYSE:AXP) traded in a range yesterday that spanned from a low of $84.83 to a high of $85.91. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $85.22 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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 6.7%. We continue to monitor AXP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, American Express share prices have been bracketed by a low of $57.15 and a high of $87.78 and are now at $84.90, 49% above that low price. The 200-day and 50-day moving averages have moved 0.42% lower and 1.28% higher over the past week, respectively.

Keywords: rebounders american express

Ticker(s): AXP