American Express Company Stock Forecast
Green day on Tuesday for American Express Company
(Updated on Apr 23, 2024)
The American Express Company stock price gained 2.56% on the last trading day (Tuesday, 23rd Apr 2024), rising from $233.00 to $238.96. It has now gained 3 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 2.42% from a day low at $233.76 to a day high of $239.42. The price has risen in 5 of the last 10 days and is up by 8.7% over the past 2 weeks. Volume fell on the last day by -1 million shares and in total, 4 million shares were bought and sold for approximately $916.15 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $238.59, a level that may pose a second chance to hit a runner. According to fan-theory $258.40 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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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. 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 $224.99 and $223.24. 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 9.87%. 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 fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
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 is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $5.66 (2.42%) between high and low. For the last week, the stock has had daily average volatility of 3.07%.
Our recommended stop-loss: $231.31 (-3.20%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 3 days ago.)
Trading Expectations (AXP) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect American Express Company to open at $237.38, and during the day (based on 14 day Average True Range), to move between $234.03 and $243.89, which gives a possible trading interval of +/-$4.93 (+/-2.06%) up or down from last closing price. If American Express Company takes out the full calculated possible swing range there will be an estimated 4.13% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $231.04, some $7.92 (3.31%) from the current price of $238.96, our system finds the risk reward attractive.
Is American Express Company stock A Buy?
American Express Company holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.000 Hold/Accumulate Unchanged
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for American Express Company of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $237.38 ( 0.662%) | $238.96 |
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 | 243.04 | 1.71 % | |
| R2 | 240.88 | 0.80 % | ||
| R1 | 239.54 | 0.244 % | ||
| Current price: | 238.96 | |||
| Support | S1 | 235.21 | -1.57 % | |
| S2 | 233.88 | -2.13 % | ||
| S3 | 231.71 | -3.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 238.96 | |||
| Support | S1 | 231.04 | -3.31% | |
| S2 | 219.42 | -8.18% | ||
| S3 | 201.43 | -15.71% |
AXP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 06, 2024 | Apr 05, 2024 | May 10, 2024 | $0.100 | 0.0418% |
| 2 | Mar 06, 2024 | Apr 04, 2024 | May 10, 2024 | $0.700 | 0.293% |
| 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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