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After Yesterday's Rally of 1.29% Shares Could Potentially Pullback

By Nick Russo

American Express (NYSE:AXP) traded in a range yesterday that spanned from a low of $126.41 to a high of $127.21. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $124.40 on volume of 886,000 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 $96.37 and a high of $129.34 and are now at $126.76, 32% above that low price. Over the last five market days, 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 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 5.5%. 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