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American Express Company Approaching Support

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ITMS Member Level  Monday, 01/22/18 08:24:46 AM
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Post # of 150 
American Express Company Approaching Support

American Express Company (NYSE:AXP) fell sharply on Friday after reporting earnings that were not as robust as the market expected. American Express Company was trading at all-time highs and due for a technical correction. The fact that the stock recently crossed above the major even-number of $100, also added fuel to the odds of a pull back. With American Express dropping by 3% today, investors are looking for a bounce opportunity. That level is approaching and can be found at the former all-time, pivot high from 2014-15 at $95.00. This will be a technical support and likely to see a bounce.




Gareth Soloway
InTheMoneyStocks

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