Bullish Moving Average Cross by American Express (AXP)

Published on Wed, 06/03/2015 - 11:57
By Adrienne Chilton in Moving average crossovers, axp, american express, moving crosses, nyse:axp

Today, shares of American Express (NYSE:AXP) have crossed bullishly above their 10-day moving average of $80.36 on a volume of 1.8 million shares. This may provide swing traders with 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.

Potential upside of 6.6% exists for American Express, based on a current level of $81.03 and analysts' average consensus price target of $86.36. The stock should hit resistance at its 200-day moving average (MA) of $85.22, as well as support at its 50-day MA of $79.17.

In the past 52 weeks, American Express share prices have been bracketed by a low of $76.53 and a high of $96.24 and are now at $81.03, 6% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.

By Adrienne Chilton
achilton@fnno.com

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