American Express Company Stock Forecast

Strong day for American Express Company stock price on Friday rising 6.23% to $231.04
(Updated on Apr 19, 2024)

AXP Signals & Forecast

The American Express Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $219.91 and $222.28. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 6.23%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for American Express Company stock

On the downside, the stock finds support just below today's level from accumulated volume at $219.42 and $218.20. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, American Express Company finds support just below today's level at $219.42. If this is broken, then the next support from accumulated volume will be at $218.20 and $201.43.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $12.76 between high and low, or 5.83%. For the last week the stock has had daily average volatility of 2.71%.

Our recommended stop-loss: $222.03 (-3.90%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)

Trading Expectations (AXP) For The Upcoming Trading Day Of Monday 22nd

For the upcoming trading day on Monday, 22nd we expect American Express Company to open at $227.16, and during the day (based on 14 day Average True Range), to move between $226.45 and $235.63, which gives a possible trading interval of +/-$4.59 (+/-1.99%) up or down from last closing price. If American Express Company takes out the full calculated possible swing range there will be an estimated 3.97% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $219.42, some $11.62 (5.03%) from the current price of $231.04, our system finds the risk reward attractive.

Is American Express Company stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for American Express Company stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 4.234 Buy Candidate Upgraded

Predicted Opening Price for American Express Company of Monday, April 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.