American Express Company Stock Forecast
American Express Company stock upgraded to Strong Buy Candidate.
(Updated on May 09, 2024)
The American Express Company stock price gained 1.23% on the last trading day (Thursday, 9th May 2024), rising from $236.24 to $239.14. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.62% from a day low at $235.56 to a day high of $239.38. The price has risen in 6 of the last 10 days and is up by 0.86% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 830 thousand more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $755.97 million.
The stock lies in the upper part of a strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $241.39 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 10.03% during the next 3 months and, with a 90% probability hold a price between $245.28 and $265.61 at the end of this 3-month period.
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AXP Signals & Forecast
Mostly positive signals in the chart today. The American Express Company stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $234.16 and $227.99. 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 9.95%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for American Express Company stock
American Express Company finds support from accumulated volume at $231.04 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $3.82 between high and low, or 1.62%. For the last week, the stock has had daily average volatility of 1.48%.
Our recommended stop-loss: $227.74 (-4.77%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 15 days ago.)
Trading Expectations (AXP) For The Upcoming Trading Day Of Friday 10th
For the upcoming trading day on Friday, 10th we expect American Express Company to open at $238.03, and during the day (based on 14 day Average True Range), to move between $235.02 and $243.26, which gives a possible trading interval of +/-$4.12 (+/-1.72%) up or down from last closing price. If American Express Company takes out the full calculated possible swing range there will be an estimated 3.45% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $231.04, some $8.10 (3.39%) from the current price of $239.14, our system finds the risk reward attractive.
Is American Express Company stock A Buy?
American Express Company holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.410 Strong Buy Candidate Upgraded
Predicted Opening Price for American Express Company of Friday, May 10, 2024
| Fair opening price May 10, 2024 | Current price |
|---|---|
| $238.03 ( 0.466%) | $239.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AXP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 241.85 | 1.13 % | |
| R2 | 240.39 | 0.522 % | ||
| R1 | 239.49 | 0.145 % | ||
| Current price: | 239.14 | |||
| Support | S1 | 236.57 | -1.08 % | |
| S2 | 235.67 | -1.45 % | ||
| S3 | 234.21 | -2.06 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 239.14 | |||
| Support | S1 | 231.04 | -3.39% | |
| S2 | 219.42 | -8.25% | ||
| S3 | 218.20 | -8.76% |
AXP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 07, 2024 | Jul 05, 2024 | Aug 09, 2024 | $0.700 | 0.293% |
| 2 | Mar 06, 2024 | Apr 05, 2024 | May 10, 2024 | $0.100 | 0.0418% |
| 3 | Mar 06, 2024 | Apr 04, 2024 | May 10, 2024 | $0.700 | 0.293% |
| 4 | Jan 04, 2024 | Jan 04, 2024 | Feb 09, 2024 | $0.600 | 0.282% |
| 5 | Sep 26, 2023 | Oct 06, 2023 | Nov 10, 2023 | $0.600 | 0.389% |
FAQ
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