American Express Crosses Above its 10-day MA (AXP)

Published on Thu, 03/12/2015 - 11:37
By Adrienne Chilton in Moving average crossovers, axp, american express, moving crosses, nyse:axp

Today, shares of American Express (NYSE:AXP) have advanced above their 10-day MA of $80.78 on a volume of 3.1 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

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.

American Express share prices have moved between a 52-week high of $96.24 and a 52-week low of $77.12 and are now trading 5% above that low price at $81.09 per share. The 200-day and 50-day moving averages have moved 0.14% lower and 1.01% lower over the past week, respectively.

There is potential upside of 8.1% for shares of American Express based on a current price of $81.09 and an average consensus analyst price target of $87.65. The stock should run into initial resistance at its 50-day moving average (MA) of $84.45 and subsequent resistance at its 200-day MA of $88.94.

By Adrienne Chilton
achilton@fnno.com

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