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Look for Shares of American Express to Potentially Pullback after Yesterday's 7.69% Rise

By James Quinn

American Express (NYSE:AXP) traded in a range yesterday that spanned from a low of $92.00 to a high of $98.99. Yesterday, the shares gained 7.7%, which took the trading range above the 3-day high of $84.77 on volume of 4.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

American Express share prices have moved between a 52-week high of $138.13 and a 52-week low of $67.00 and are now trading 47% above that low price at $98.34 per share. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 2.3%.

SmarTrend is monitoring the recent change of momentum in American Express. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of American Express in search of a potential trend change.

Keywords: rebounders american express

Ticker(s): AXP