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Bullish Moving Average Cross by American Express (AXP)

Published on Fri, 02/22/2013 - 12:09
By Adrienne Chilton

Today, shares of American Express (NYSE:AXP) have advanced above their 10-day MA of $62.00 on a volume of 1.6 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, American Express has traded in a range of $51.54 to $62.76 and is now at $62.12, 21% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

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 has overhead space with shares priced $62.12, or 6.1% below the average consensus analyst price target of $66.15. American Express shares have support at the 50-day moving average (MA) of $59.51 and additional support at the 200-day MA of $57.58.

By Adrienne Chilton
achilton@fnno.com

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