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Watch for Shares of American Express (AXP) to Approach Resistance at $128.19

By Nick Russo

Shares of American Express (NYSE:AXP) have bullishly opened above the pivot of $127.30 today and have reached the first resistance level of $127.69. Should the shares continue to rise, the resistance pivots of $128.19 and $129.08 will be of interest.

American Express (NYSE:AXP) is currently priced 14.4% above its average consensus analyst price target of $108.85. American Express shares have support at the 50-day moving average (MA) of $121.56 and additional support at the 200-day MA of $119.89.

In the past 52 weeks, American Express share prices have been bracketed by a low of $96.37 and a high of $129.34 and are now at $127.17, 32% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.3%.

SmarTrend recommended that subscribers consider buying shares of American Express on October 18th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $118.99. Since that recommendation, shares of American Express have risen 7.4%. We continue to monitor AXP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts american express

Ticker(s): AXP