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Watch for American Express to Potentially Pullback After Gaining 1.29% Yesterday

By Shiri Gupta

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.

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.

American Express share prices have moved between a 52-week high of $129.34 and a 52-week low of $96.37 and are now trading 32% above that low price at $126.76 per share. 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%.

Keywords: rebounders american express

Ticker(s): AXP