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American Express's Shares Changing Hands at Higher Prices on 1.3x Above-Average Volume (AXP)

Published on Fri, 01/11/2013 - 14:12
By Peter Chu

American Express shares are trading on heavy volume today, having risen 0.5% to $61.09. About 6.9 million shares have been traded today, as compared to the 30-day average volume of 5.3 million shares. Unusually high volume can signify a potential turning point or validate a breakout.

In the past 52 weeks, American Express share prices have been bracketed by a low of $48.12 and a high of $61.97 and are now at $61.09, 27% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

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 $61.09, or 4.4% below the average consensus analyst price target of $63.92. The stock should discover initial support at its 200-day moving average (MA) of $57.27 and subsequent support at its 50-day MA of $56.73.

By Peter Chu
pchu@fnno.com

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