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American Express Shares Sinking Lower, Down 1.1%

Published on Fri, 03/08/2013 - 11:35
By Mallory Stone

American Express (NYSE:AXP), a company whose shares are moving quickly, is trading 1.1% lower to $63.84. The Dow Jones Industrial Average is now trading 0.2% higher to 14,362 and the S&P is trading fractionally higher to 1,546.

American Express Company is a global payment and travel company. The Company's principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses around the world.

Potential upside of 3.6% exists for American Express, based on a current level of $63.84 and analysts' average consensus price target of $66.15. The stock should find initial support at its 50-day moving average (MA) of $60.65 and further support at its 200-day MA of $57.79.

In the past 52 weeks, American Express share prices have been bracketed by a low of $51.54 and a high of $64.94 and are now at $63.84, 24% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 0.88% higher over the past week, respectively.

By Mallory Stone