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)
The American Express Company stock price gained 6.23% on the last trading day (Friday, 19th Apr 2024), rising from $217.50 to $231.04. During the last trading day the stock fluctuated 5.83% from a day low at $218.84 to a day high of $231.60. The price has fallen in 5 of the last 10 days but is still up by 3.86% 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, 3 million more shares were traded than the day before. In total, 7 million shares were bought and sold for approximately $1.59 billion.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 13.73% during the next 3 months and, with a 90% probability hold a price between $247.88 and $271.13 at the end of this 3-month period.
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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
Fair opening price April 22, 2024 | Current price |
---|---|
$227.16 ( 1.68%) | $231.04 |
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 | 239.92 | 3.84 % | |
R2 | 235.05 | 1.73 % | ||
R1 | 232.03 | 0.430 % | ||
Current price: | 231.04 | |||
Support | S1 | 222.29 | -3.79 % | |
S2 | 219.27 | -5.09 % | ||
S3 | 214.40 | -7.20 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 231.04 | |||
Support | S1 | 219.42 | -5.03% | |
S2 | 218.20 | -5.56% | ||
S3 | 201.43 | -12.82% |
AXP Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 06, 2024 | Apr 05, 2024 | May 10, 2024 | $0.100 | 0.0433% |
2 | Mar 06, 2024 | Apr 04, 2024 | May 10, 2024 | $0.700 | 0.303% |
3 | Jan 04, 2024 | Jan 04, 2024 | Feb 09, 2024 | $0.600 | 0.282% |
4 | Sep 26, 2023 | Oct 06, 2023 | Nov 10, 2023 | $0.600 | 0.389% |
5 | Sep 26, 2023 | Oct 05, 2023 | Nov 10, 2023 | $0.600 | 0.389% |
FAQ
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