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American Express Falls 5.56% on Heavy Volume: Watch For Potential Rebound

By David Diaz

American Express (NYSE:AXP) traded in a range yesterday that spanned from a low of $79.50 to a high of $82.13. Yesterday, the shares fell 5.6%, which took the trading range below the 3-day low of $83.10 on volume of 5.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

American Express share prices have moved between a 52-week high of $138.13 and the current low of $0.00 and are currently at $0.00 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 1.8%.

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.

Keywords: rebounders american express

Ticker(s): AXP