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Watch for American Express to Potentially Rebound After Falling 1.54% Yesterday

By David Diaz

American Express (NYSE:AXP) traded in a range yesterday that spanned from a low of $114.66 to a high of $116.20. Yesterday, the shares fell 1.5%, which took the trading range below the 3-day low of $117.07 on volume of 1.8 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

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.

Over the past year, American Express has traded in a range of $89.05 to $129.34 and is now at $116.00, 30% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Keywords: rebounders american express

Ticker(s): AXP