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Watch for American Express to Potentially Pullback After Gaining 1.67% Yesterday

By Amy Schwartz

American Express (NYSE:AXP) traded in a range yesterday that spanned from a low of $118.66 to a high of $119.63. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $118.15 on volume of 1.4 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, American Express share prices have been bracketed by a low of $89.05 and a high of $119.66 and are now at $119.45, 34% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.4%.

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 20.1%. 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